(CNSNews.com) – When asked how long the Strategic Petroleum Reserve will be tapped into, White House Press Secretary Karine Jean-Pierre said Wednesday it was created for “a moment just like this” in reference to the ongoing Russia-Ukraine war.
During the White House press briefing, a reporter asked, “When you say now that the petroleum reserve is here for this reason, how long is this going to go on? Should the oil industry, should Americans presume that the reserve will be tapped for the duration of the Russia-Ukraine war or until it hits a certain price point?”
Jean-Pierre replied, “So, first – first, let – first, let me – let me say a couple of things, because I think it’s important for the American people to know.”
“The Strategic Petroleum Reserve remains the largest strategic reserve in the world. There are more than 400 million barrels of oil in the reserve. So I want to make sure that folks understand that,” the press secretary said.
She continued, “And I – and, to my point, the Strategic Petroleum Reserve was created for this time, for a moment just like this, when there is a supply disruption that is – has been caused by Putin’s war. This is why the reserve exists.”
“I mean, we have been very clear,” Jean-Pierre stated. “I don’t have anything more to announce beyond the December extension that the president announced, beyond the 180 million barrels of oil that we have announced very much earlier this year.”
“And if we have – we’re going to continue to monitor and take a very close look of what’s happening in the next several days, in the next several months, and when we have more to announce, certainly the president will do that.”
In December, the Biden administration will release 15 million barrels of oil from the Strategic Petroleum Reserve, Politico reported on Tuesday. This is the last of the 180 million barrels of oil authorized for release – aiming to lower fuel prices at the pump for Americans.