How OPEC Outplayed Biden ...Middle East

OILPRICE - Economy
How OPEC Outplayed Biden
source : OILPRICE ( Middle East ) () 45
In December 1975, when memories of gas lines were fresh on the minds of Americans as a result of the 1973 OPEC oil embargo, Congress established the Strategic Petroleum Reserve (SPR). The law was designed “to reduce the impact of severe energy supply interruptions” such as that caused by the embargo. This crude oil is stored in underground salt caverns at four major oil storage facilities in the Gulf Coast region of the United States. There are two sites in Texas and two sites in Louisiana. Is the SPR Obsolete? There was once a period…

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