In March 2022, as crude oil prices spiked amid Russia's war in Ukraine, President Joe Biden announced that he would be tapping into the Strategic Petroleum Reserve (SPR) to help mitigate rising gas prices. In what he called a "wartime bridge," Biden authorized the release of up to 180 million barrels over six months.
This week, the Biden administration is clashing with House Republicans over a bill that would limit its control over future SPR releases. A better idea would be to simply scrap the reserve altogether.
