{"id":1913491,"date":"2023-04-12T05:11:31","date_gmt":"2023-04-12T09:11:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-missed-golden-window-to-restock-strategic-petroleum-reserves-he-depleted-oil-ceo-says\/"},"modified":"2023-04-12T05:12:24","modified_gmt":"2023-04-12T09:12:24","slug":"biden-missed-golden-window-to-restock-strategic-petroleum-reserves-he-depleted-oil-ceo-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-missed-golden-window-to-restock-strategic-petroleum-reserves-he-depleted-oil-ceo-says\/","title":{"rendered":"Biden Missed \u2018Golden Window\u2019 To Restock Strategic Petroleum Reserves He Depleted, Oil CEO Says"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-missed-golden-window-to-restock-strategic-petroleum-reserves-he-depleted-oil-ceo-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1913491&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p>The CEO of Canary, Dan Eberhart, has criticized President Joe Biden for missing a \u201cgolden window\u201d to replenish the depleted Strategic Petroleum Reserve while oil prices were low. OPEC, an economic bloc comprised of Saudi Arabia, Venezuela, and other major oil-producing countries, recently reduced output, unexpectedly causing a rise in oil prices around the world. Brent crude rose from $79 per barrel on March 31 to $85 per barrel on April 11, leaving Biden with few options to restock the reserve as oil prices are not expected to drop below $80 per barrel anytime soon.<\/p>\n<p>Eberhart spoke with Fox Business and expressed concern that the US government\u2019s lack of action has made the country unprepared for a potential fuel supply disruption, stating, \u201cthe train has left the station.\u201d He also predicted that oil prices would reach $100 per barrel or higher by 2023. Under former President Donald Trump, an attempt was made to purchase oil at $24 per barrel to replenish the reserve, but Congress blocked the measure. Biden has faced criticism for canceling the expansion of the Keystone XL pipeline and decreasing federal oil lease approvals, but has returned the US to the Paris Climate Agreement to push for a transition towards renewable energy.<\/p>\n<p>Eberhart added that the Biden administration\u2019s policies have decreased productivity in the oil industry and have made it challenging to drill. Eberhart noted, \u201cOur production, our drilling is not what it once was. The rig count is also lower. And this is all just constraining supply, and it\u2019s silently sowing the seeds for the next oil price spike which ultimately will be bad for consumers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canary CEO Dan Eberhart remarked that President Joe Biden missed a \u201cgolden window\u201d to replenish the depleted Strategic Petroleum Reserve when oil prices were reasonably low. OPEC, an economic bloc constituted by Saudi Arabia, Venezuela, and other countries with a large share of worldwide oil production, recently issued an unexpected reduction in output, causing oil<\/p>\n","protected":false},"author":99,"featured_media":1913492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[3620,3850,16651,5163,12934,7393,9765,13337,24188,8035,12008],"class_list":["post-1913491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-biden","tag-ceo","tag-depleted","tag-golden","tag-missed","tag-oil","tag-petroleum","tag-reserves","tag-restock","tag-strategic","tag-window"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1913491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1913491"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1913491\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1913492"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1913491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1913491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1913491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}