U.S. Congressman Garret Graves (South Louisiana) released the following statement today regarding President Trump directing the U.S. Department of Energy (DOE) to fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-made crude oil:
“I commend President Trump and Secretary Brouillette for taking this positive and crucial step toward stabilizing our domestic energy production and America’s energy independence. U.S. oil producers are facing severe losses from the impacts of the coronavirus, compounded by disrupting impacts of the economic warfare being carried out by Russia and OPEC, who are intentionally using the crisis to inflict further hardship on our country. Now is the right time for the president to make this move: For the first time in decades, we are seeing a decrease in global energy demand,” Graves said.
Last week, Graves called on the Trump Administration to pivot away from its previously planned SPR sale, urging the president to instead fill the SPR.