Washington, D.C – Yesterday, it was reported that the Biden Administration plans to release approximately 1 million barrels per day from the Strategic Petroleum Reserve (SPR). Earlier on Wednesday, an op-ed was published by SAFE CEO Robbie Diamond and former Sierra Club head Carl Pope calling on the White House to take this action. But they argued this step should be accompanied by some additional domestic production from pre-existing leased wells to responsibly refill the SPR and calm volatile oil markets.
Today, Robbie Diamond added this additional statement on the record:
“A substantial and sustained release of the nation’s Strategic Petroleum Reserve is an important first step in combatting rising energy prices and putting more non-Russian oil on the global market. It is also important to restore our nation’s strategic oil reserve, a significant national security asset, while providing further supply and stability to oil markets by tapping existing but unused domestic wells. This President Biden can direct under his existing authorities, including the Defense Production Act. It is no longer time for half measures as we seek to starve the Russian war machine and protect the global economy.”
See the full op-ed: “Energy: No Time for Half Measures” published in Real Clear Energy on March 30, 2022.
Contact: Bridget Dunn | 202.539.7885 | firstname.lastname@example.org
SAFE enhances the nation’s energy security and supports our economic resurgence and resiliency, by advancing transformative transportation and mobility technologies and ensuring that the United States secures key aspects of the technology supply chain to achieve and maintain our strategic advantage.
In partnership with the Electrification Coalition, SAFE’s sister organization, we work with consumers, businesses, and policymakers, to launch award-winning “real-world” programs and enable the needed polices to accelerate transportation electrification around the country to reduce our Nation’s dependence on oil.