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The Biden administration’s top energy official held multiple talks with a Chinese Communist Party official linked to an oil company counting investment from Hunter Biden’s private equity firm just days before the U.S. moved to release oil from its strategic reserve in 2021. Energy Secretary Jennifer Granholm controversially spoke with China National Energy Administration chairman Zhang Jianhua one-on-one multiple times in meetings that had not previously been reported, according to internal Energy Department calendars obtained by Fox News. Granholm and her Chinese Communist Party counterpart met on November 19th and 21st, 2021, just days before the White House announced its...

The Biden administration has canceled an offer to buy 6 million barrels of oil to replenish America's Strategic Petroleum Reserve (SPR), multiple outlets have reported. Last year, President Biden drew criticism when he sold off 180 million barrels of oil from the SPR, resulting in a near 4-decade reserve low, which he claimed helped to "stabilize crude oil markets and reduce prices at the pump." This July, the Department of Energy (DOE) announced a buyback plan to replenish the reserve. One of those acquisition orders, however, has been canceled amid rising oil costs, according to Reuters. The administration previously set...

Stroll through the West Hackberry oil facility on the US Gulf Coast and there’s not much to see: some pipelines and other industrial equipment. But buried deep beneath the surface are storage caverns so massive they’re tall enough to house the Empire State Building with plenty of room to spare. These reserve sites are supposed to hold enough backup supply to ensure the US never runs short of oil. Right now, they’re sitting half empty. It only took about six months for the Biden administration to sell off 180 million barrels from the federal stash in the fastest withdrawal on...

Republican lawmakers have been criticizing President Joe Biden on Wednesday over his plan to release 15 million oil barrels from the strategic petroleum reserve. The GOP also renewed its calls for Biden to tap further into sources of domestic energy production, as gas prices continue to fluctuate after reaching an all-time high average price per gallon in June. 'It's strategic petroleum reserve, not the political petroleum reserve,' House Foreign Affairs committee ranking member Rep. Michael McCaul of Texas told Fox News host Harris Faulkner.

Biden’s administration is getting more and more desperate as the Midterms loom as the pace at which they are draining the nation’s so-called ‘strategic’ reserve of crude oil just went to ’11’. Last week saw almost 8.54 million barrels withdrawn from the SPR – the biggest weekly drain in history. ... This unprecedented collapse of the Strategic Petroleum Reserve to its lowest since September 1984 has helped lower oil prices (from their record highs)… ... the price of gas at the pump is still up 76% since Biden was . ... But ‘average joe’ doesn’t care about ‘president joe’ actions...

Thoughts on the Strategic Petroleum Reserve… Americans have always been encouraged to be savers. This isn’t just a recent thing, from the do-it-yourself investment gurus of the late 20th century. It goes back to our very beginnings as a people: When Benjamin Franklin used various versions of the saying, “A penny saved is a penny earned” in Poor Richard’s Almanac in the mid-18th century, the concept was already a century old. One of our first political arguments as a nation under the Constitution was on the question of how best to incorporate and utilize banks; our Founding Fathers knew that...

Energy Secretary Jennifer Granholm (D) said Sunday that President Biden is considering tapping into the nation’s Strategic Petroleum Reserve amid rising crude oil prices. During an appearance on CNN’s “State of the Union,” Granholm told host Dana Bash that Biden is looking at every tool at his disposal to address high gas prices in the U.S. Granholm noted that Biden had already asked the Organization of the Petroleum Exporting Countries to increase supply, but it declined.

President Trump on Sunday announced he had authorized the use of the U.S.'s emergency oil reserve in response to a series of drone attacks in Saudi Arabia that have disrupted the Gulf country's crude output. "Based on the attack on Saudi Arabia, which may have an impact on oil prices, I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount sufficient to keep the markets well-supplied," Trump said in a series of tweets. "I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process...

Congressional leaders proposed to sell 58 million barrels of oil from U.S. emergency reserves over six years starting in fiscal 2018 to help pay for a budget deal that ends mandatory spending cuts, according to a copy of the bill posted to a congressional website. The Strategic Petroleum Reserve holds more than 695 million barrels of crude in Texas and Louisiana, a bounty that U.S. lawmakers have eyed a few times this year to pay for a new drug program and highway maintenance.

Energy Policy: As the administration fast-tracks solar projects on public lands, it has locked up more than half of the National Petroleum Reserve in Alaska, preferring to continue outsourcing energy jobs and dollars. The price of gasoline, which was $1.84 a gallon the day President Obama took office, has more than doubled since, willfully aided and abetted by an administration that claims we can't drill our way to energy independence as we ignore vast reserves of North American energy that dwarf OPEC's and we sit on 100 years' supply of petroleum. Few Americans have heard of the National Petroleum Reserve-Alaska...

With Gas Prices at Record Levels Obama Cuts Off Drilling in Half of Alaska’s National Petroleum Reserve Posted by Jim Hoft on Monday, October 15, 2012, 11:10 AM Gas prices have more than doubled since Barack Obama took over the White House. But that didn’t stop him from cutting off drilling in August in half of Alaska’s National Petroleum Reserve.The Obama Administration planned for higher gas prices and fewer jobs through their many job-killing decisions.The Wall Street Journal reported, via FOX Nation: President Obama is campaigning as a champion of the oil and gas boom he’s had nothing to do...

To combat rising gasoline prices, anonymous White House sources are reporting that President Obama will release oil from the Strategic Petroleum Reserve. When Obama was inaugurated, the average gasoline prices were $1.84 per gallon, and oil was at about $39 for a 42-gallon barrel. On Monday, refiners were paying about $96 for a barrel of West Texas Intermediate, and the average price of regular gasoline was $3.72, up from $3.45 a month earlier. The 696-million barrel Strategic Petroleum Reserve, stored in underground salt caverns in Texas and Louisiana, exists to protect America against "severe energy supply disruptions," according to the...

Keystone XL? What's that? News out this afternoon is that Obama is looking into opening the Strategic Petroleum Reserve as a means to relieve pressure at the gas pump.  Someone at the White House woke up and realized that the welcome springtime fall in gasoline prices has reversed course and retraced its steps, as shown [below].  I can tell you that out here on the Left Coast, the price of premium gasoline has reached $4.99 a gallon at my nearest station, but then California deserves it.  (The recent refinery fire at Richmond, which will reduce capacity for a few weeks,...

US Faces Stiff Opposition to Oil Release For Political Gain Published: Saturday, 18 Aug 2012 | 5:27 AM ET President Barack Obama faced stiff resistance to the possibility of releasing emergency oil reserves to quell rising energy prices on Friday, with Asian allies and the head of the West's energy agency rejecting any need for action now. A day after Reuters reported that the White House was "dusting off" plans for potentially tapping the Strategic Petroleum Reserve, the executive director of the International Energy Agency, Maria van der Hoeven, was blunt in her assessment: "There is no reason for a...

Energy Policy: The same administration that says we can and should get oil from the National Petroleum Reserve in Alaska is blocking a bridge needed to get it to market on environmental grounds. In his May 14 weekly radio address, President Obama called for annual lease sales in the National Petroleum Reserve-Alaska (NPRA), not necessarily out of any conviction that increased domestic energy supply is good for prices and national security, but basically to perpetuate the myth that the oil companies refuse to drill in leased or leasable areas. While he restricts oil production in the Gulf of Mexico and...

Democratic presidential candidate Barack Obama's plan to release oil from the U.S. Strategic Petroleum Reserve may lower crude and gasoline prices in the short term, but it could also leave the United States more vulnerable in a supply emergency. Obama called this week for easing fuel prices by releasing some 70 million barrels of light, sweet crude from the nation's stockpile and swapping it for less expensive heavy, sour oil. However, experts warn that, with less sweet oil in the reserve, it may be more difficult for the United States to counter a major disruption in petroleum supplies, like the...

LANSING, Mich. — Senator Barack Obama altered his position on Monday to call for tapping the nation’s Strategic Petroleum Reserve to lower gasoline prices as he outlined an energy plan that contrasts with Senator John McCain’s greater emphasis on expanded offshore drilling and coal and nuclear technology. In a speech here and in a new advertisement, Mr. Obama, the presumptive Democratic nominee, also sought to portray his Republican rival, Mr. McCain, as “in the pocket” of oil giants that are profiting from gasoline priced at more than $4 a gallon. And in his speech, Mr. Obama called for a windfall...

Boehner calls Dems' energy bill 'joke' U.S. House Minority Leader John Boehner Thursday called the Democrats' efforts to free up the strategic oil reserve a joke. At his weekly news conference, Boehner, R-Ohio, said Democrats have been making one excuse after another for why we can't have more American-made energy. Boehner, fresh from trips to Colorado to inspect oil shale reserves and Alaska where he looked at conditions in the Arctic National Wildlife Refuge, said tapping those reserves would not lead to environmental catastrophe. The only people standing in the way of this are (House Speaker) Nancy Pelosi, (Senate Majority...

The U.S. Congress is considering legislation that would require 70 million barrels of crude oil from the nation's Strategic Petroleum Reserve to be released to the open market in an effort to drive down gas prices. That would mean pumping oil out from man-made caverns where it is stored. Only twice in the reserve's 31-year history has oil been extracted for emergencies.

House rejects bill to sell oil from reserve Thu Jul 24, 2008 3:09pm EDT WASHINGTON (Reuters) - The U.S. House of Representatives rejected legislation on Thursday to sell 70 million of barrels of light, sweet crude from the Strategic Petroleum Reserve and replace it with heavy, sour crude. The bill would have required the sale of 10 percent of the emergency stockpile's holdings, or 70 million barrels, on the open market over six months. Proceeds from the sales would have been used to buy an equivalent amount of heavy crude, which is cheaper. The White House had threatened to veto...