How to refill the SPR on the cheap

Between November 2021 and October 2022, the Biden administration announced that 260 million barrels of Oil would be released from the Strategic Petroleum Reserve.

Then, the mid-term elections were held in November 2022.

Now, there are 50 million barrels of Venezuelan “heavy sour” Oil (not light sweet, although the SPR holds both) bound for the U.S.

Later, they’ll send another 100 million barrels or so.

And sometime before November 2026, in time for the mid-term elections, (whether the oil arrives or not), the headline will read something like, “Trump replenishes the SPR which Biden sold off”.

January 7, 2026

rob@karriasset.com.au