New Delhi/Washington: Fighter jets are hovering in the skies of Middle East and West Asia. After the strike by America and Israel on Iran, now its worst effect is visible on the superpower America itself. One of President Donald Trump’s strategies has become a thorn in the side for him today. Experts believe that Trump has missed the opportunity to fill his country’s Strategic Petroleum Reserve (SPR). When oil prices were low, the Trump administration did not fill the treasury and now that the war with Iran has broken out, America does not have enough oil left for the emergency. According to a report in the Financial Times, America is currently standing on the threshold of a major ‘oil shock’. Its burden on the general public is becoming visible in the form of rising prices of petrol.

Trump’s carelessness put America in trouble

America’s Strategic Petroleum Reserve or SPR was created in the year 1974. Its purpose was to maintain the supply of oil in the country during any major war or crisis. During his tenure, Joe Biden had extracted a large amount of oil from this reserve to control petrol prices during the Russia-Ukraine war.

As soon as Trump came to power, he had promised that he would fill this reserve to its brim again. But reports show that this promise remained limited to papers only. Today the situation is that this reserve of America has been reduced to only 415 million barrels against its total capacity of 714 million barrels. This stock is enough for America’s needs only for 20 days.

How the Iran war spoiled the whole game?

The increasing tension between Iran and America has shaken the global oil market. Tehran has launched retaliatory attacks on the energy infrastructure of Gulf countries, due to which there is a fear of complete stoppage of supply. biggest concern strait of hormuz (Strait of Hormuz). of the world 20 percent oil from here passes through. If Iran closes this route, America will have no way to replenish its reserves. University of Texas professor Hugh Daigle says the Trump administration missed an opportunity when prices were low. Now in the atmosphere of war, prices have increased so much that replenishing the reserve will prove to be very expensive economically.

America needs $20 billion

According to the US Department of Energy, about 20 billion dollars, a huge amount, is required to refill this empty treasury. Maintenance work is also pending in underground storage centers built in Texas and Louisiana. Due to lack of funds, the work of refilling oil has slowed down.

Democratic MP Sean Caston has directly attacked Trump. He says that Trump is failing to assess Iran’s political situation and its ability to retaliate. He gave more importance to politics than the security of the country and today the result is that petrol prices have increased by 9 percent in the last one week.

Will domestic oil production be able to save America’s dignity?

  • Even though the emergency reserve is empty, one saving grace for America is its domestic shale oil production.
  • America is one of the largest oil producers in the world, so it is not afraid of a complete supply cut. However, it seems to be losing control over global market prices.
  • Crude oil prices have increased by 16 percent since Trump started attacks on Iran.
  • On Thursday, the price of petrol reached $3.25 per gallon, which is the highest since April last year.
  • Now the government is considering futures trading to stabilize oil prices, but experts consider it inadequate.

Is it right to blame Biden’s policies?

The Republican Party often accuses the Biden administration of depleting oil reserves. But former advisor Amos Hochstein says that Biden had stopped extracting oil two and a half years ago and had also bought back 60 million barrels. The question is, what did the Trump administration do in the last one year? On the other hand, Bob McNally of Rapidan Energy Group believes that it was wrong for Biden to use the reserves. He says that the emergency fund should have been used only in case of supply interruption and not to reduce prices. Today, America and the entire world are facing a supply emergency for which they do not have any concrete backup plan.



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