Canary CEO Dan Eberhart remarked that President Joe Biden missed a “golden window” to replenish the depleted Strategic Petroleum Reserve when oil prices were reasonably low.
OPEC, an economic bloc constituted by Saudi Arabia, Venezuela, and other countries with a large share of worldwide oil production, recently issued an unexpected reduction in output, causing oil prices across the planet to soar. Brent crude, the benchmark for fuel drilled in the Atlantic Ocean, increased from $79 per barrel on March 31 to $85 per barrel on April 11.
Eberhart commented in an interview with Fox Business that “the train has left the station” with respect to Biden replenishing the Strategic Petroleum Reserve, a stock of emergency crude oil intended to minimize the impact of fuel supply disruptions, since the price of oil is unlikely to fall below $80 per barrel for the foreseeable future.
“I can’t stress enough how missing the window to replace the Strategic Petroleum Reserve is just really…
