03.31.2022

CO2 Coalition statement on Biden plans to release 1 million barrels of oil per day from the Strategic Petroleum Reserve for up to 6 months

Oil is a fungible commodity traded on the World oil market. Daily world oil production since 2017 has ranged from 70.2 million BOPD to 84.5 million BOPD so this proposed production from the SPR is nothing more than a rounding error that will not help American consumers in any meaningful manner. Unleashing American oil and gas production and allowing construction of pipelines is the commonsense solution to high prices.

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