Washington, DC – Congressman Frank Lucas (OK-03) released the following statement after President Joe Biden announced a decision to release up to 180 million barrels of oil from the Strategic Petroleum Reserve (SPR):
“President Biden’s decision to further tap into the Strategic Petroleum Reserve to backfill the deficit in global oil yields is irresponsible, misguided, and will further jeopardize our national security as the Biden Administration continues to drain important emergency reserves.
“On his first day in office, President Biden began targeting America’s energy production. Instead of halting domestic production and supply and redirecting financial capital, the United States should be unleashing its energy production and expediting permits while encouraging investment. At this very moment, Americans need relief, but unfortunately, the Biden Administration’s misguided policies stand in the way of realistically easing Americans’ pain at the pumps.
“Today’s energy crisis shows that the United States needs an all-of-the-above energy approach, not a sudden halt of oil and natural gas production, especially if America is to help wean our allies off Russian energy. I urge President Biden to unleash America’s energy independence and invest in research that embraces a wide range of energy resources, a comprehensive strategy that provides immediate relief for the American people while pursuing our long-term goals of generating cleaner, more efficient, and less expensive American energy. The people of America’s energy industry stand ready to provide that relief for their fellow Americans.”
The Biden Administration’s release of approximately one million barrels of oil per day would be the largest release from the SPR in 50 years and result in a 30 percent decrease in the reserve.
Lucas recently sent a letter to President Biden urging him to unleash American energy.
Lucas also is a cosponsor of the American Energy Independence from Russia Act, which would create a long-term strategy increasing America’s energy production.