By Tristan Justice (The Federalist)
President Joe Biden took credit for knocking a few cents off of record-high oil prices after withdrawing millions of barrels from the nation’s emergency strategic petroleum reserves (SPR), but records show his Department of Energy actually timed the first drawdown of the emergency oil supply to coincide with an already forecasted decline in oil prices.
According to internal documents obtained by the Functional Government Initiative (FGI) through the Freedom of Information Act (FOIA), administration officials acknowledged agency assessments that predicted a drop in oil prices ahead of the first SPR release in November 2021.