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BumRushDaShow

(172,917 posts) Thu Jun 11, 2026, 09:55 AM 6 hrs ago

America's emergency oil reserve is about to hit lowest level since Reagan era

Source: The Independent

Thursday 11 June 2026 06:48 BST

President Donald Trump's ongoing war with Iran is draining America's emergency supply of crude oil — which is just days away from hitting its lowest level in more than 40 years, according to a report Wednesday.

Since March, Trump has tapped 66 million gallons of oil from the Strategic Petroleum Reserve to keep exports flowing and prevent Americans from seeing their price at the pumps reach new heights, Fortune said.

The reserve dipped to a 3-year low of 349.2 million barrels on June 5 and is being depleted at a rate of nearly 9 million barrels a week. If it falls under the 346.7 million barrel mark reached in July 2023 under then-President Joe Biden, it will be lower than since Ronald Regan was president in 1983.

“It’s a pretty monumental number to hear multi-decade lows reached,” Patrick De Haan, head of petroleum analysis at GasBuddy, told Fortune. “The longer this goes on, the fewer tools the administration has in dealing with it, and the more risk there is to a slingshot for costs.”

Read more: https://www.independent.co.uk/news/world/americas/us-politics/trump-oil-iran-us-war-crude-oil-reserves-b2993726.html

6 replies

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America's emergency oil reserve is about to hit lowest level since Reagan era (Original Post) BumRushDaShow 6 hrs ago OP

trump's fans do not protect the environment or conserve anything rampartd 6 hrs ago #1

This Simply Cannot be True wyn borkins 6 hrs ago #2

Then when he was pressed about the magical 100 million barrels Bengus81 5 hrs ago #3

trump lies a lot. republianmushroom 4 hrs ago #4

but but but we stole all the oil in Venezuela. The largest reserves in the world Da? ...nt mitch96 3 hrs ago #5

How can this be? Scalded Nun 2 hrs ago #6

rampartd

(5,331 posts)

1. trump's fans do not protect the environment or conserve anything

Reply to BumRushDaShow (Original post)

Thu Jun 11, 2026, 09:59 AM

6 hrs ago

do you think they believe jesus will fix it when he returns?

or do they not care what happens as long as they post a quarterly profit?

wyn borkins

(1,482 posts)

2. This Simply Cannot be True

Reply to BumRushDaShow (Original post)

Thu Jun 11, 2026, 10:07 AM

6 hrs ago

Trump says the U.S. secretly moved more than 100 million barrels of oil through the Strait of Hormuz. His comments come after Energy Secretary Chris Wright said that oil exports through Hormuz are "rising very meaningfully."

Noting that one hundred million full barrels of oil weighs approximately 14 million metric tons (or approximately 31 billion pounds).

Bengus81

(10,463 posts)

3. Then when he was pressed about the magical 100 million barrels

Reply to wyn borkins (Reply #2)

Thu Jun 11, 2026, 10:14 AM

5 hrs ago

he didn't have a clue. Can't believe anything these thugs spew.

republianmushroom

(22,851 posts)

4. trump lies a lot.

Reply to wyn borkins (Reply #2)

Thu Jun 11, 2026, 11:44 AM

4 hrs ago

mitch96

(15,904 posts)

5. but but but we stole all the oil in Venezuela. The largest reserves in the world Da? ...nt

Reply to BumRushDaShow (Original post)

Thu Jun 11, 2026, 01:08 PM

3 hrs ago

Scalded Nun

(1,744 posts)

6. How can this be?

Reply to BumRushDaShow (Original post)

Thu Jun 11, 2026, 02:08 PM

2 hrs ago

We stole Venezuela's oil.
We are stealing Iran's oil (but only after dark).
We produce so much more than we use.
Clean coal is taking over.
Reserves aren't that great anyway. The USA makes more money when we run low, big oil makes bigger profits, and the American people don't care if the prices go up.

Sounds like we should be thanking the whole administration for giving us all these benefits.

And if that all fails, it must be Biden's or Obama's fault. They did this to us.

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