WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina) today made this statement on the Biden Administration decision to release emergency oil reserves.
“What an abuse of the Strategic Petroleum Reserve by the Biden Administration. The program is designed to deal with national emergencies, not correct bad policy. The release of 50 million barrels is a Band-Aid because the root cause is the Democratic war on fossil fuel production in America.
“President Trump filled the reserves up with cheap oil. President Biden is releasing millions of barrels to control skyrocketing prices, which are the direct result of his bad policy choices. It won’t work, and we will end up having to eventually replace the released oil at higher prices.
“Finally, the Democrats’ Build Back Better proposal, which recently passed the House of Representatives, will dramatically decrease domestic oil production. It’s a bad bill for American energy independence, and it will make the American oil and gas supply worse in every way.”