On Monday’s broadcast of Bloomberg’s “Balance of Power,” Ernest Moniz, who served as Energy Secretary during the Obama administration, warned that due to how much the Strategic Petroleum Reserve has been depleted, “if we had another major issue to deal with, we would be severely compromised” and stated that the Biden administration didn’t fill the Reserve when it said it would. Moniz also criticized Congress for using the SPR to fund things unrelated to energy.
Co-host Joe Mathieu asked, [relevant exchange begins around 29:10] “I would love to ask you while you’re with us about refilling the Strategic Petroleum Reserve, knowing that there was at least a brief opportunity to do so at profit a couple of weeks ago. … Of course, a barrel of oil was selling for something in the 60s just a couple of weeks ago. Did we miss an opportunity?”
Moniz responded, “Well, we had said — the Biden administration had said that we would start refilling the Petroleum…