On Fridayâs broadcast of CNBCâs âSquawk Box,â 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
CNBC: Biden Missed Chance to Refill SPR at Lower Rates After Draining It for Political Reasons
GOP Rep. Buddy Carter: Biden’s Drained SPR and Now We Might Need It
On Thursdayâs broadcast of the Fox Business Networkâs âKennedy,â Rep. Buddy Carter (R-GA) said that we now find ourselves in a situation where we might need the Strategic Petroleum Reserve for what itâs 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 Fridayâs edition of Bloombergâs âWall Street Week,â 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 isnât…