U.S. Gas Reserves Lowest Level in Decades

Strategic Petroleum Reserve levels have reached their lowest levels in four decades as autumn and winter weather conditions approach, according to data from the Energy Information Administration.President Joe Biden has responded to rising gas prices by releasing one million barrels of oil per day from the Strategic Petroleum Reserves — a stock of emergency crude oil created to “reduce the impact of disruptions in supplies of petroleum products.” Though reserves in January 2021 were as high as 638 million barrels, reserves have fallen to 461 million barrels as of August 2 …