Cole Slams Biden for Releasing More Oil from SPR

Washington, D.C. – Congressman Tom Cole (OK-04), member of the House Energy Action Team (HEAT), released the following statement after President Joe Biden's announced decision to release up to 180 million barrels of oil over the next several months from the Strategic Petroleum Reserve (SPR), amounting to approximately one million barrels per day, in an attempt to lower gas prices. This would be the largest release from the SPR in 50 years and would result in a 30 percent decrease in the reserve.

"President Biden's decision to release more oil from the Strategic Petroleum Reserve is misguided, reckless and completely irresponsible. Yet again, he is ignoring the obvious solutions at his disposal that are reliable and readily available to address the all-time high prices at the pumps, and it would not involve tapping into our emergency reserve," said Cole.

"The answer is to unleash domestic energy production to supply more oil and gas. America is producing nearly two million barrels a day less than we were in 2020. President Biden could easily reverse the policies he implemented on day one, including restarting the Keystone XL pipeline, reopening federal lands for more exploration and production and adopting policies that encourage, rather than disparage, our domestic energy industry.

"Of course, to do these things the Biden Administration would have to admit its policies were short sighted, counterproductive and detrimental to the well-being of the American people. Instead of being honest, reversing course and doing the right thing, the Biden Administration is continuing to undermine America's energy security and depleting our emergency reserves in the desperate hope that it will lower gas prices. It will not. The real answer is to produce more oil and gas in our country and to quit vilifying the energy industry and the men and women who work hard to provide Americans with the oil and gas they need. American energy independence has been achieved before, and it can be done again – but only if the Biden Administration stops working against them and starts working with them."

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