'Massive US Oil Caverns' Are Now Empty, Will Take 'Decades to Refill'
ZEROHEDGE While it took the Biden administration the better part of six months to drain the US oil supply down to a precarious 20-days of emergency reserves (a 40-year low), it will take decades to refill - if that happens at all, Bloomberg reports.
Thanks to the Biden administration, these reserve sites are sitting half empty.
The Strategic Petroleum Reserve (SPR) now sits at 346.8 million barrels - a level unseen since 1983 - out of a total authorized storage capacity of 714 million.