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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 55.38-1.2%Jan 14 4:00 PM EST
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To: rdkflorida2 who wrote (179697)9/19/2022 4:25:48 PM
From: the traveler  Read Replies (1) of 207821
 
You are right, well sorta. ~Here are the facts though in their proper order and context. Too bad the Dept. of Energy failed to do what Trump instructed them to do aintit?

"Further, there was actually a net decline in the SPR when President Trump was in office. When he took office in January 2017, the SPR contained 695 million barrels. When he left office four years later, the SPR contained 638 million barrels. So not only is the claim of filling it untrue, but the level of the SPR actually declined while President Trump was in office.
One thing President Trump did propose was to top off the SPR when the Covid-19 pandemic was crushing oil demand. In March 2020 President Trump directed the Department of Energy to “fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-made crude oil.”

That directive may be the source of President Trump’s confusion on the issue. However, 1). The directive was never carried out; and 2). The SPR was already within 13% of its highest-ever level when that directive was issued. So it’s not as if the SPR was empty at the time."

https://www.forbes.com/sites/rrapier/2022/04/01/no-former-president-trump-did-not-fill-the-strategic-petroleum-reserve/?sh=a24c83068aee
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