Gov. Doug Burgum released the following statement today after President Joe Biden announced that the U.S. Department of Energy will make available releases of 50 million barrels of oil from the nation’s Strategic Petroleum Reserve to address high gas prices and supply-demand imbalance.
“Today’s announcement that the Biden administration is releasing oil from our nation’s Strategic Petroleum Reserve is truly baffling. Executive actions taken by this administration have done nothing but erect roadblocks for our domestic oil industry to recover to pre-pandemic levels, and Americans are feeling the pain in their wallets. No one produces energy more cleanly and efficiently than we do. But instead of encouraging U.S. operators to produce more oil, this administration has repeatedly urged OPEC to boost oil output and is now tapping into reserves intended to be used for national emergencies – not to soften the blow of self-inflicted price increases caused by misguided energy policy. We urge President Biden to work with North Dakota and other oil-producing states to continue to grow our domestic oil supply now, rather than taking it from future generations or buying it from foreign sources.”