Trump’s energy dominance rewrites the Strategic Petroleum Reserve after Biden drawdowns

By Fox News · Fox News

America’s rise as a global oil powerhouse has changed how critical the Strategic Petroleum Reserve (SPR) is to U.S. security and economic stability — even after President Joe Biden’s drawdowns drove stockpiles to modern-era lows, an economist and energy expert explained to Fox News Digital. As the Trump administration works to gradually replenish the Strategic Petroleum Reserve following record releases under the Biden administration, Diana Furchtgott-Roth, director of The Heritage Foundation's Center for Energy, Climate and Environment, told Fox News Digital that the decades-old emergency oil stockpile no longer plays the same central role it once did. President Donald Trump 's policies of "unleashing" energy and his "drill, baby, drill" mantra are key as to why, following the U.S. as domestic supply rose and demand shifted. "I don't think for the security of the United States, for the economy of the United States, I don't think the SPR is as important as it was 25, 30 years ago because now we are one of the greatest oil and natural gas producers in the world," Furchtgott-Roth said. US MILITARY SEIZES ANOTHER FUGITIVE OIL TANKER LINKED TO VENEZUELA The U.S. became the world’s largest natural gas producer in 2011, surpassing Russia, and then the top crude oil producer in 2018, overtaking Saudi Arabia and Russia — a surge driven largely by the shale revolution, which took off in the mid-to-late 2000s with the widespread use of horizontal drilling and hydraulic fracturing. The Strategic Petroleum Reserve was created in the aftermath of the 1970s oil crisis to protect the United States from foreign supply shocks, at a time when the country relied heavily on imported oil. That dynamic has shifted dramatically as domestic production surged, turning the U.S. into the world’s largest producer of oil and natural gas. Furchtgott-Roth said the U.S.' shift to become an energy producer, combined with Trump's policies have opened the floodgates of producing U.S. oil, which less…