As White House Drains Oil Reserve to Near-40-Year Lows, Biden Asks for $500 Million to Modernize System

The Biden administration is asking Congress for hundreds of millions of dollars in an effort to shore up and modernize parts of the Strategic Petroleum Reserve system, a request that comes after the White House has spent months aggressively draining the levels of fuel from the system itself. 

The request, a rider attached to the White House’s $38 billion Ukrainian funding package,  would “provide the Department of Energy, Energy Security and Infrastructure Modernization Fund account $500 million for modernization activities of the four Strategic Petroleum Reserve sites,” the White House said in the letter.

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