Statista reminds us that the Strategic Petroleum Reserve has been called upon rarely since its creation in the 1970s. In fact there have only been three instances where supply disruptions warranted the President of the United State to order a release: Operation Desert Storm (1991), Hurricane Katrina (2005), and during the so-called Arab Spring (2011) when oil stopped flowing from Libya and other countries. However, last spring, President Joe Biden authorized the release of 180 million barrels until the end of this year and an additional 15 million barrels last month in order to ease increasing gasoline prices. Indeed… Be safe and have a Happy Friday!!
