GOP Rep. Armstrong: Biden Drained SPR, So We’ll See Prices Spike Due to Middle East ConflictOn Monday’s broadcast of the Fox Business Network’s “Evening Edit,” Rep. Kelly Armstrong (R-ND) stated that Americans are going to see energy prices jump due to the conflict in the Middle East and we can’t offset it easily because the Strategic Petroleum Reserve has been drawn down to low levels by the Biden administration.
Armstrong said, “[W]e absolutely should put sanctions on Iran, and we should be doing everything we can to help the only democracy in the Middle East and our closest ally, but it’s going to come at a cost. Natural gas prices in Europe were up…oil’s up…at a time when energy is already driving most of the inflation that Americans are feeling. And now we have an absolute conflict in the Middle East after the terrorist attack by Hamas on Israel. So, we’re — And to top it all off, we have 17 days worth of supply in the strategic oil reserve, because the Biden administration has drawn it down for political reasons.”
Host Elizabeth MacDonald pointed out that the average amount in the reserve is about twice that and asked, “So, is there any worse time to have [a] historically low and depleted Strategic Reserve right now?”
Armstrong answered, “No, absolutely not. … I don’t know what oil we’d use to fill it. They stopped drilling in North Dakota on federal leases. We’ve had all of the different problems that have existed under this administration. But, at a time when our closest ally in the Middle East really needs our help, Americans are going to see a shock to their energy prices, and you can take it all back to the Biden administration.”
https://www.breitbart.com/clips/2023/10/10/gop-rep-armstrong-biden-drained-spr-so-well-see-prices-spike-due-to-middle-east-conflict/
