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US Energy Chief to Seek $20 Billion to Refill Oil Reserve, Bloomberg Reports

Business & Policy
March 7, 2025

Wright told Bloomberg News in an interview that the initiative would restore holdings “just close to the top” to maintain efficient operating status.

“Ultimately that’s what it was built for — to have the maximum security for the American people,” Wright told Bloomberg.

Trump said last month that his administration would quickly fill up the Strategic Petroleum Reserve. He has criticized his predecessor, Joe Biden, for tapping the reserve to bring down the price of gasoline.