Markey called on Trump administration to tap SPR to address refinery closures, increase in gasoline prices in wake of Hurricane Harvey
Washington (August 31, 2017) - Senator Edward J. Markey (D-Mass.), a member of the Environment and Public Works Committee, released the following statement after the Department of Energy released 500,000 barrels of oil from the Strategic Petroleum Reserve (SPR), the country's stockpile of crude oil and refined fuels that can be used in the case of supply disruptions and emergencies. This week, Senator Markey called on the Trump administration to tap the SPR in the wake of Hurricane Harvey, which has led to the closure of nearly 20 percent of the nation's oil refining capacity. Retail gasoline prices have increased six cents since last week.
“The Trump administration was right to release oil from the SPR to help ensure consumers across the country aren’t harmed at the pump,” said Senator Markey. “We should use all means necessary to protect consumers, including using the SPR as a shield, as the Gulf Coast region continues to struggle with the aftermath of Hurricane Harvey.
“Given recent announcements that additional energy infrastructure could be taken offline, the administration should continue to monitor energy markets and consider further releases from the SPR to combat supply disruptions and price spikes.”