WASHINGTON, D.C. – In case you missed it, the Dallas Morning News recently featured an op-ed by Congressman August Pfluger (TX-11), a Member of the House Committee on Energy and Commerce, which highlighted the need to refill our Strategic Petroleum Reserve in order to strengthen our national security and unleash American energy dominance.
In Case You Missed It:
“Following the 1970s oil crisis, Congress created the Strategic Petroleum Reserve (SPR) as America’s insurance policy against global energy supply disruptions. For nearly half a century, this emergency crude oil stockpile has served as an indispensable safeguard — ready to cushion the blow from unexpected market shocks, natural disasters or geopolitical conflicts.
“Today, however, this vital insurance policy is running on fumes. At just 409 million barrels, the SPR is at its lowest level since its inception, with less than 60% of its capacity currently being utilized.
“This depletion stems largely from the Biden administration’s unprecedented drawdown of more than 290 million barrels in 2022 in an attempt to ease high gas prices following Russia’s invasion of Ukraine. While the move temporarily worked, it was the largest drawdown in the reserve’s history and came with no viable plan to replace what was taken.
“Three years later, the SPR remains dangerously depleted, and now the structural integrity of the salt caverns that protect the remaining barrels is at serious risk. Fortunately, there is a clear solution, and Washington must act on it.
“Oil prices have hovered near multiyear lows, offering a prime opportunity to replenish the reserve at a discount. This year alone, West Texas Intermediate (WTI) crude has dipped as low as $57 per barrel and has averaged around $65 per barrel — prices well below the $75-$80 assumptions often used in federal budget models. At today’s low prices, refilling the roughly 321 million barrel gap would cost less than $21 billion — a bargain by any measure for this scale of investment.
“We should not repeat the mistakes of the previous administration that failed to capitalize on similar opportunities, making only token purchases even when prices fell below the $70 per barrel target. At that pace, restoring the SPR to its pre-2020 level of roughly 635 million barrels would take nearly a decade, which is more than quadruple the amount of time it took former President Joe Biden to drain it.
“President Donald Trump and Congressional Republicans have taken a modest first step. In the Working Families Tax Cut (WFTC) law, we secured $850 million to refill the SPR: $171 million for crude purchases, $218 million for critical cavern repairs and $461 million to cancel the upcoming mandated sale of 7 million barrels. Using the $75-$80 per barrel assumption, the Department of Energy estimates it can purchase roughly 2 million barrels with these funds and has already awarded the first contracts to do so.
“While this is a start, it is nowhere near enough to fill the 700 million barrel capacity the SPR was built to hold. If we are serious about reestablishing American energy dominance, then refilling the rest must be a top priority for Republicans in 2026.
“The biggest obstacle to doing so isn’t a lack of supply — it’s the drawn-out process of congressional appropriations, and the little motivation from lawmakers to fix it.
“The United States currently produces over 13 million barrels of oil per day, nearly half coming from the Permian Basin. Producers are ready and able to deliver the barrels needed if the government is prepared to buy, but current law requires the DoE to wait for Congress to allocate funds before purchasing crude. This procedural molasses has repeatedly prevented timely purchases under favorable market conditions, forcing us to sit on our hands even when the opportunity to act is unmistakable.
“While a comprehensive overhaul of the congressional appropriations process is necessary to solve this issue once and for all, Congress can still make significant progress in upcoming annual funding measures and in next year’s budget reconciliation process.
“With geopolitical tensions rising and Chevron CEO Mike Wirth recently predicting that oil prices could remain near record lows through 2026, the United States is in a narrow, strategic window to act. Congress must build on the momentum from the WFTC and prioritize appropriating the necessary funds to fully replenish the SPR now — not after the next global disruption drives prices up or exposes a crippling vulnerability.
“We may never see another ripe opportunity like this again, and we cannot afford to miss it. The bottom line is that the SPR is the cornerstone of American energy security and treating it as the proactive national security asset it was created to be is long overdue.
“The SPR was never meant to be weaponized as a tool for political gain and refilling it now should not be reduced to a partisan fight.
“The next crisis will come. The only question is whether we will be prepared.”
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