Fact Check: Biden took that step in a big way after Russia’s Ukraine invasion, selling off more than 40 percent of the stockpile.

Fact Check: "Biden took that step in a big way after Russia’s Ukraine invasion, selling off more than 40 percent of the stockpile."

What We Know

Following Russia's invasion of Ukraine in February 2022, the Biden administration undertook significant actions regarding the U.S. Strategic Petroleum Reserve (SPR). Specifically, the administration sold approximately 180 million barrels of crude oil from the SPR as part of an emergency response to stabilize fuel prices and ensure energy security for the United States (Energy.gov). This sale represented over 40% of the SPR's total capacity, which was a historic move aimed at mitigating the economic impact of the invasion (Politico).

As of late 2024, the Department of Energy confirmed that the administration has since purchased back more than 40 million barrels to replenish the SPR, demonstrating a commitment to restoring the reserve after the emergency sales (Energy.gov).

Analysis

The claim that "Biden took that step in a big way after Russia’s Ukraine invasion, selling off more than 40 percent of the stockpile" is substantiated by multiple sources. The U.S. Department of Energy explicitly stated that the sales were a direct response to the disruption caused by the invasion, with the total amount sold reaching 180 million barrels (Energy.gov). This figure aligns with reports indicating that the SPR was reduced significantly, confirming that over 40% of its capacity was indeed sold off (EIA).

The credibility of the sources used in this analysis is strong. The U.S. Department of Energy is a government agency responsible for energy policy and management, making its statements authoritative. Additionally, news outlets like Politico and Reuters provided independent coverage of the sales, corroborating the figures released by the Department of Energy (Politico, Reuters).

While some sources may have varying interpretations of the implications of these sales, the factual basis regarding the volume sold and the context of the sales remains consistent across reputable reports.

Conclusion

Verdict: True. The claim that President Biden sold off more than 40 percent of the Strategic Petroleum Reserve in response to Russia's invasion of Ukraine is accurate. The administration's actions were part of a broader strategy to manage fuel prices during a time of significant geopolitical tension, and the figures provided by credible sources confirm the extent of these sales.

Sources

1. Biden-Harris Administration Purchases More Than 4 Million Barrels for ...
2. Biden-Harris Administration Makes Final Purchase for the ...
3. As much as 15 million barrels of crude oil sold from the U.S. Strategic ...
4. Defense Production for Ukraine: Background and Issues ...
5. Even as Oil Prices Ease, U.S. Keeps Tapping Strategic ...
6. Exclusive: Biden administration buys last oil for emergency reserve as ...
7. Russian markets plummet amid broader sanctions fears
8. Biden sold off nearly half the U.S. oil reserve. Is it ready for a ...