𝙱𝚒𝚍𝚎𝚗 𝙸𝚜 𝚂𝚎𝚝 𝚃𝚘 𝚃𝚊𝚙 𝚃𝚑𝚎 𝚂𝚝𝚛𝚊𝚝𝚎𝚐𝚒𝚌 𝙿𝚎𝚝𝚛𝚘𝚕𝚎𝚞𝚖 𝚁𝚎𝚜𝚎𝚛𝚟𝚎, 𝙸𝚗 𝙰 𝙱𝚒𝚐 𝚆𝚊𝚢
President Biden is set to release almost one-third of the United States' Strategic Petroleum Reserve (SPR), in an effort to curb rising oil and energy prices, which are feeding inflation throughout the US economy.
This is the biggest drawdown from the SPR in history... and it's not even close.
There have been only a few emergency withdrawals from the SPR since it was established in the 1970s, the biggest of which have been closer to
30 million barrels. This latest withdrawal is set to be
180 million barrels of oil, almost one-third of the
570 million barrels that were available at the last count.
The oil is stored in 60 enormous underground salt caverns across 4 sites in Louisiana and Texas one of which is large enough for Chicago's Willis Tower to fit inside (with room to spare).
𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐
