Democrats proudly rejected an effort from former President Donald Trump in March 2020, when the WTI benchmark declined to just $14.10 per barrel, to buy 77 million barrels of oil for $3 billion to replenish the SPR.
New York Sen. Chuck Schumer, the top Democrat in the Senate, said that he had successfully removed the "$3 billion bailout for big oil" from the legislation.
Now:
The Biden administration announced plans Thursday to refill the Strategic Petroleum Reserve (SPR) two years after Democrats blocked the Trump administration's similar but cheaper proposal.
Now: