U.S. Oil Industry Exec Predicts Major Crisis “in the Next Few Weeks”

American Petroleum Institute president and CEO Mike Sommers predicts that the U.S. will face another “major oil crisis in the next few weeks” as a result of the Biden Administration’s “willy-nilly” energy policy. At its lowest level since 1984, Sommers expressed concern for the way the Strategic Petroleum Reserve (SPR) has been used for “political purposes.”  “This is for emergency purposes, not to lower gasoline prices during a time during a political season,” said Sommers.  He strongly recommends the SPR be refilled with a sound market strategy rather than a political one.