Energy Dept. Rebuilds Strategic Petroleum Reserve

The Energy Department took a significant step in rebuilding the nations Strategic Petroleum Reserve by awarding contracts to purchase one million barrels of crude oil. This move aligns with the administrations broader energy strategy, aiming to strengthen energy independence and reverse costly policies from the previous administration. The reserve had fallen to its lowest level since 1983, largely due to a 180-million-barrel drawdown in 2022. This purchase, bought at moderate prices, is seen as a strategic move to protect against potential global supply disruptions and bolster national security. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.