Energy

The IEA wants to empty its oil reserves faster. A federal watchdog says the US isn’t ready for what comes next - Fortune

Source: Fortune

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DW NOTE

The IEA coordinates strategic releases among 31 countries holding 1.2 billion barrels. The US Strategic Petroleum Reserve was drained from 638 million barrels in 2022 to 347 million today — and Washington just tapped it again during the Hormuz closure. A federal watchdog now says refill infrastructure can't keep pace with planned drawdowns. The reserve exists to buffer supply shocks, not to fix policy failures. If you empty it faster than you can refill it, it stops being a reserve and becomes a one-time subsidy.

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