The current exchange centers on a formal request from Cathy McMorris Rogers, chair of the House Energy and Commerce Committee, and John Barrasso, chair of the Senate Energy Committee, directed to the United States Government Accountability Office. The intent is to examine how the Biden administration has employed the nation’s strategic oil reserves.
The letter argues that the impetus for this review rests on the administration releasing 180 million barrels from the strategic reserve and raises concerns about potential implications for the United States’ energy security. The request emphasizes the need to understand whether such a release aligns with long-term national energy policy and resilience planning, and whether it could influence market dynamics, supply reliability, or strategic stock levels in times of future need.
Past disclosures indicated a notable shift in the volume of the strategic petroleum reserve during recent years. By 2023, the reserve had declined by more than thirty percent, landing at about 368 million barrels. This decline marked a historical low not seen since 1983. Government data show that in mid-spring 2022, the United States drew down to a level representing roughly 76.5 percent of the maximum stockpile, which would be around 727 million barrels. Since then, storage capacity has fallen to roughly 50.6 percent of its potential capacity, signaling a meaningful reduction in available buffer stock. These figures are discussed in official agency reports and reflect ongoing considerations about inventory management, procurement policy, and the role of strategic reserves in energy planning. Attribution: GAO and related agency data.