This week, the House passed the Strategic Production Response Act to ensure that the President has a plan to increase domestic production following any non-emergency draining of our Strategic Petroleum Reserve (SPR).
The solution to low oil supply is simple - increase domestic production. However, the Biden administration has continued to halt federal land and offshore lease sales for oil and gas development over the past two years and has interfered with the creation of pipelines and large-scale refineries with new and cumbersome regulations. Instead of unleashing domestic energy and encouraging American production of oil and gas, President Biden has drained the SPR to its lowest level since 1984 with no concrete plan to refill it. More than 250 million barrels of oil—approximately 40 percent of the reserve—have been depleted in less than two years. That’s more than all former presidents in history, combined. This misuse of our strategic reserves has weakened our economic and national security for political purposes.
To prevent further abuse of the SPR, the Strategic Production Response Act would require any future non-emergency reductions to be accompanied by a plan from the Secretary of Energy to replace them with an increase in domestic petroleum production. Specifically, the bill would require the Secretary of Energy, in consultation with the Secretaries of Interior, Defense, and Agriculture, to develop a plan to increase oil and gas production on federal lands to replace oil depletions from the SPR. This will preserve the SPR for its vital and central purpose—to provide the oil supplies Americans need during true emergencies.