US Should Tap Strategic Petroleum Reserve, Rep. Sherrill Says

NEW JERSEY — There may be a way to ease rising gasoline prices while still supporting President Joe Biden’s decision to ban U.S. imports of Russian oil, a congresswoman from New Jersey says.

On Tuesday, Rep. Mikie Sherrill (District 11) suggested that the United States release more of its Strategic Petroleum Reserve, which she said is “stored for exactly this sort of crisis.”

The reserve was established primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the U.S. under the international energy program. The federally-owned oil stocks – which has more than 700 million barrels of authorized storage capacity – are stored in huge underground salt caverns at four sites along the coastline of the Gulf of Mexico.

Learn more about the reserve here, and see past historical sales and exchanges here.

Sherrill, who has pushed for harsher financial sanctions against Russian President Vladimir Putin, said she “remains unwavering in her support of Ukraine and its people in their fight for freedom, the preservation of their democracy, and their ability to remain a sovereign nation free from coercion by Putin’s Russia.”

“While we must do everything we can to stand up to Putin as Russia continues to wage a premeditated, unprovoked war on a fragile democracy, I am also fighting hard to address affordability here at home,” Sherrill said. “That’s why as we end all importation of Russian oil, I am calling for a gas tax holiday to ease prices at the pump.”

The congresswoman elaborated on her suggestions in a Tuesday news release, including tapping the Strategic Petroleum Reserve. She wrote:

“While stepping up our sanctions on Russia is necessary to preserve freedom and democracy abroad, I deeply understand Americans' real and legitimate concerns about the potential effect this could have on gas prices. I will continue to push for additional steps our country can take to further bring down gas prices. We can do so by releasing more of our Strategic Petroleum Reserve, which is stored for exactly this sort of crisis and will also lead to a prompt decrease in fuel prices, examine ways to increase production in the short term, and take aggressive steps to secure our energy independence by accelerating our transition to clean energy, so that we are never again dependent on hostile foreign powers for our fuel. Energy independence is a matter of national security and I will continue my efforts to make sure we can rely on energy that is produced in America, often with technology that is developed and manufactured in North Jersey.”

Sherrill is a graduate of the U.S. Naval Academy and served in the Navy for almost 10 years as a helicopter pilot and Russian policy officer. As a Russian policy officer, she worked on the implementation of our nuclear treaty obligations and oversaw the relationship between the US Navy and Russian Federation Navy. She now serves on the House Armed Services Committee, where she serves as the Vice Chair of the Tactical Air and Land Forces Subcommittee.

• See related article: Russian Oil Ban: What It Could Mean For Gas Prices In New Jersey
• See related article: Lukoil Boycott In NJ Would Endanger 1,200 Jobs, Group Says
• See related article: NJ Antiwar Activists Say US Isn't Blameless For Ukraine-Russia

Send news tips and correction requests to eric.kiefer@patch.com

Sign up for Patch email newsletters. Learn more about posting announcements or events to your local Patch site.