Down along the Gulf of Mexico, in a network of massive underground caverns, you'll find America's Strategic Petroleum Reserve (SPR).
It's the largest-known emergency fuel supply in the world, capable of storing up to 714 million barrels of oil.
The SPR was created in the wake of the 1973 oil crisis, when OPEC's embargo created massive disruptions and sent our economy into a tailspin.
And the government has only ever tapped into the supply during similar disruptions — like when Hurricane Katrina ripped through the Gulf's oil industry in 2006.
But that all changed under President Biden.
Because in late 2021, his party was staring down a tough midterm election, with fuel prices still steadily rising.
So he did something no other president has ever done.
He started withdrawing large quantities of fuel from the SPR and dumping it on the open market in a bid to bring prices down.
By the time Biden was done, he'd reduced the SPR to its lowest level in nearly 40 years.
Now it's over a year later — and he still hasn't replenished the SPR:
This is a serious problem for President Biden.
Because as oil prices rise, the cost of rebuilding these reserves will become astronomical. And Washington could soon find themselves powerless to do anything about it.
Oil has already soared 24% in the last six weeks — and it's not showing any signs of slowing down.
That's why I recommend that YOU take action immediately.
I've covered all the details in my special video update. Just click below to get started.
Regards,
Charles Mizrahi Founder, Alpha Investor
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