It may take decades to refill the U.S. strategic petroleum reserve (SPR) after President Joe Biden released unprecedented amounts from its supply in 2022, according to Bloomberg News.
Aging infrastructure, higher oil prices and budget constraints have impeded the administration’s efforts to substantially replenish the SPR after Biden tapped its supply to tame spiking energy prices in the lead up to the 2022 midterms, according to Bloomberg. The massive underground salt caverns that hold the SPR oil now sit half-empty with no easy route to replenishment, and experts say it could take decades to refill the reserves, according to Bloomberg.
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