Earlier this week, the Biden administration rejected the first bids from companies offering to sell crude oil into the strategic petroleum reserve of the country. The tender followed a record release of 180 million barrels throughout 2022. And that 180 million barrels may never be returned to the SPR.
“DOE will only select bids that meet the required crude specifications and that are at a price that is a good deal for taxpayers,” the Department of Energy said in a statement following the failed tender, which invited bids for a modest…180 Million Barrels Of Crude May Never Be Returned To The SPR
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