3/23, 8:32 PM (Source: TeleTrader)
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Granholm: US might need years to refill oil reserves

United States Energy Secretary Jennifer Granholm told legislators on Thursday that it might take years for the country to refill its Strategic Petroleum Reserve.

"This year, it will be difficult for us to take advantage of this low price ... But we will continue to look for that low price into the future because we intend to be able to save the taxpayer dollars," Granholm said before the House representatives during a congressional hearing.

The measures the Biden administration took last year pulled the US oil reserves to their lowest level in 40 years. Commenting on oil prices, Granholm stressed the government is seeking to push WTI futures to $72 per barrel.

Baha Breaking News (BBN) / ND