Trump administration moves to replenish depleted Strategic Petroleum Reserve amid global oil price drop The Trump administration plans to purchase one million barrels of crude oil to begin refilling the Strategic Petroleum Reserve (SPR), which is only 60% full after historic drawdowns under Biden. Limited congressional funding and multi-billion-dollar costs raise concerns about taxpayers footing the bill for what critics call political misuse of the SPR. Some Republicans suggest sourcing oil from Venezuela, but sanctions and ethical concerns complicate this option despite its vast reserves. Originally created after the 1975 OPEC embargo, the SPR’s modern purpose is debated as the U.S. is…
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