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Wright: swaps will add 40 million barrels to SPR; says prior administration sold 200 million barrels
Summary
Energy Secretary Chris Wright said the administration is using swaps to add about 40 million barrels back into the Strategic Petroleum Reserve after what he described as prior sales of 200 million barrels, and he called rebuilding the SPR a multi‑year effort.
Chris Wright said the United States "came into this with much less oil in the SPR than we would have liked" and characterized prior large SPR sales as irresponsible. He told the host that the administration is arranging swaps and that "we'll have an extra 40,000,000 barrels in the SPR at no cost to American taxpayers."
Wright also repeated the guest's earlier allegation that the prior administration sold "200,000,000 barrels of oil" from the SPR, which he called politically motivated, and said repairs and refilling will take years. The host earlier framed repair costs as "over a $100,000,000" and asked whether the reserve's condition poses risks; Wright said the country is in strong relative position but acknowledged the refilling timetable is multi‑year.
