The U.S. SPR is currently at a multi-decade low. Replenishing 300 million barrels at a cost of even $70 per barrel would cost $21 billion for the oil alone. The United States needs the SPR as a safety ...

Forbes contributors publish independent expert analyses and insights. I analyze petroleum economics and energy policy. During the pandemic, the Biden Administration drew down the Strategic Petroleum ...

The Department of Energy rejected a bid for 3 million barrels to refill the SPR last week. Crude quality complicates the problem of refilling the SPR. The U.S. Department of Energy may not have ...