WASHINGTON D.C. – Christopher Guith, Senior Vice President at the U.S. Chamber’s Global Energy Institute, issued the following statement in response to the Biden Administration’s decision to tap into the Department of Energy’s Strategic Petroleum Reserve:
“America’s real strategic petroleum reserve is in places like the Permian Basin and the Gulf of Mexico. The Department of Energy’s reserve should only be used for supply disruptions. Instead of ineffectual band aids, the White House should focus on policies that will encourage domestic production of oil and natural gas. Rather, all the Administration has done is threaten energy production on federal lands, cancel pipelines and beg Saudi Arabia and Russia for more oil. It’s time to unleash America’s full potential to meet the world’s energy needs.”