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Strategic Reserve at Historic Low | Bend News
The U.S. Strategic Petroleum Reserve hits a 40-year low as global energy shortages drive up gas prices and inflation, forcing tough choices about when—and how—to tap the nation’s emergency oil stockpile. Created after the 1973 oil embargo, this reserve sits in underground caverns along the Gulf Coast, ready to stabilize markets during crises. The president can release barrels to ease price spikes, a move previously used after Ukraine’s invasion and during the Iran war—when the IEA coordinated the largest joint release in history. With global tensions rising—including an oil tanker attack off…
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