alt Hacker NewsSo seriously, what is the administrations intention here? They’ve used all the missiles and drained all the gas. Are they trying to get the U.S. invaded?
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Keep fuel prices low enough using the SPR to try to not lose at midterms. They don’t care what happens after, just as they don’t care about their constituents losing their Medicaid.
The cost of putting unsophisticated grifters in the ultimate position of power.
¯\_(ツ)_/¯
(Green New Deal via incompetence)
It's actually shocking that so many comments don't know that the biggest draw -by far- happened under the Biden administration largely as a result of the Ukrainian War. In 2020 when the SPR wasn't full and oil was literally negative, Congress blocked the administration from buying oil to fill it. Instead they used the SPR for short term storage for oil companies (which was not the administration's original proposal.)
I get the Iran war part (though the bigger issue there is middle distillerates rather then crude atm), but people were screaming about the SPR drawdown, and lack of buying for 4 years before Trump ever got back into office; and it fell completely on deaf ears.
Most of the draw down was after Russia invaded Ukraine. This drawdown is a swap of 1 barrel now for 1.25 barrels later. So the intention is to keep prices down now and get more oil back later for "free".
Project 2025 fairly implicitly stated that the idea was to scuttle trust in the US government so badly that there would be a case for private equity to swoop in and save the day. That's what you're seeing.