March 29, 2024

CNBC: Biden Missed Chance to Refill SPR at Lower Rates After Draining It for Political Reasons

On Friday’s broadcast of CNBC’s “Squawk Box,” co-hosts Becky Quick and Joe Kernen reacted to news that the Biden administration wants to try to refill the Strategic Petroleum Reserve (SPR) at a price of $79 a barrel or less by noting that there was a time when the SPR could have been refilled at a lower

GOP Rep. Buddy Carter: Biden’s Drained SPR and Now We Might Need It

On Thursday’s broadcast of the Fox Business Network’s “Kennedy,” Rep. Buddy Carter (R-GA) said that we now find ourselves in a situation where we might need the Strategic Petroleum Reserve for what it’s actually designed for, but the reserve has been drained by President Joe Biden. Host Jackie DeAngelis asked, [relevant remarks begin around 1:35]

Summers: We’re Going to Have to Replace Oil Released from SPR, Which Will Raise Prices

During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that while he agrees with the initial release from the Strategic Petroleum Reserve done by the Biden administration, he isn’t…

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