Oil exec rips Biden over energy policy, warns of ‘major’ crisis coming in a few weeks

 The Strategic Petroleum Reserve (SPR)

• As Biden uses the SPR to artificially lower gas prices, a negligent plan to refill it will no doubt trigger another economically painful oil crisis.
• American Petroleum Institute president and CEO Mike Sommers warned that Biden is doing this ***** nilly and doing it in a way that doesn't make sense for the market.

When gas prices shot up to as much as $7 a gallon in California earlier this year, Biden ordered hundreds of millions of barrels of oil released to the market in order to bring prices down

• The president plans to halt oil sales from the Strategic Petroleum Reserve once the price of crude dips to $70 a barrel
• Sommers said the best plan is to not use the SPR in a way that is for political purposes and rather do it in a market-based way

https://www.naturalnews.com/2022-12-04-oil-exec-rips-biden-over-energy-policy-crisis.html