White House Considering Tapping Emergency Reserves of Heating Oil this Winter

December 1, 2022

The Biden administration has already put a significant dent in the nation’s Strategic Petroleum Reserve by tapping into those reserves multiple times in the last twelve months. Now, they’re looking to do the same thing with America’s reserves of heating oil.  

CNBC reports, “The Biden administration is considering tapping additional reserves of heating and crude oil as winter nears and uncertainty over market prices worsens, according to four people familiar with the matter. The U.S. currently holds about 1 million barrels of heating oil — a form of diesel fuel used primarily to heat homes — in three commercially leased locations in the New York and Connecticut. The White House is weighing whether to call on Congress to raise the storage limit, potentially doubling it, to build additional reserves the administration could release if supply tightens or prices rise again, according to two sources familiar with the matter.” 

The reason Americans are dealing with sky-high energy costs is because the Biden administration has engaged in all-out assault on domestic fossil energy production. From killing projects to punishing regulations, this White House has done everything in its power stop production. It has led to massive spikes in heating costs and low supply of oil. Heating oil is now 54% more expensive according to CNBC. The administration is trying to save face as American families struggle with the real-life consequences of those actions. Our strategic reserves should be for emergencies – not self-inflicted wounds from the White House.