Art of the Deal: Biden Sold Our Oil at $95—Now Trump Buys It Back for $63

Posted By


 

On April 28th, Energy Secretary Chris Wright appeared on CNBC and said something that should make every freedom-loving American smile:

“Absolutely. We are refilling the Reserve now and we will continue to refill the Reserve the whole time I’m in office.”

He’s talking about the Strategic Petroleum Reserve (SPR), and this move is a major win—not just for energy independence, but for every taxpayer in the country.

Why the SPR Matters

The SPR was set up in 1975 after the oil crisis. It’s basically our emergency fuel stash.

Think of it like a savings account—but for oil. We only dip into it during emergencies like war, hurricanes, or supply shocks.

But during Joe Biden’s presidency, he drained it like a teenager with a credit card.

In 2022, Biden sold off 180 million barrels from the SPR—about one-third of it. He said it was to help bring down gas prices before the midterm elections.

The average sale price?

$95 a barrel. Gas still hit a record $5.01 a gallon that summer.

So much for relief.

By the time he was done, the SPR had dropped to its lowest level since 1985. And it wasn’t just bad policy—it was dangerous.

What if we had a real crisis?

Trump’s Fix: Common Sense and Savings

Donald Trump promised to refill the SPR “to the very top” if he returned to office—and true to his word, his administration is doing just that.

Here’s the kicker: they’re buying back oil at just $63 a barrel.

So let’s do some quick math.

Biden sold oil at $95, and now Trump is buying it back for $63. That’s a $32-a-barrel difference.

Multiply that by millions of barrels, and that’s real savings for taxpayers.

Back in 2020, Trump even tried to fill the SPR at just $24 a barrel during the COVID price crash. But Democrats in Congress blocked it, calling it a “bailout for Big Oil.”

Guess they prefer overpaying.

Why Fossil Fuels Still Matter

Energy Secretary Chris Wright has been clear: we need fossil fuels—especially natural gas.

At the CERAWeek energy conference in 2025, he pointed out that natural gas powers 43% of U.S. electricity and 25% of the world’s energy.

Wind and solar? Nice ideas, but not always reliable.

Translation: When you rely too much on renewables, people’s lights go out and their bills go up.

Meanwhile, natural gas and oil keep the country running—without government subsidies or mandates.

Energy Security Is National Security

Refilling the SPR now does more than just save money—it protects our country.

After Biden nearly emptied the tank, America had only 17 days of emergency oil supply left by September 2023.

That’s not enough in a real crisis.

Trump’s team is fixing that. Slowly but surely, the reserve is being rebuilt.

And while some worry that buying up all that oil might raise prices, the long-term gain in security is worth it.

Plus, every barrel bought helps U.S. producers—especially shale drillers, who’ve made the U.S. the world’s top oil producer.

The Left’s Fantasy vs. Real-World Needs

Progressives love to talk about phasing out oil and gas. But here’s the thing: without fossil fuels, America doesn’t run.

Biden’s moratorium on federal oil and gas leases back in 2022 helped push gas prices through the roof.

And his plan to go all-in on renewables has only added more instability to the grid.

America First—Again

This SPR refill isn’t just smart policy—it’s a promise kept.

And if you scroll through X, it’s clear the grassroots are fired up.

Comments like “Drill Baby Drill!!” and “America’s future is Bright ” show the energy (pun intended) behind Trump’s approach.

Now that’s how you lead.

Final Thought

Energy independence doesn’t just mean lower prices.

It means freedom. It means security.

And it means we’re not begging OPEC or China for help when the going gets tough.

This article was written with the assistance of AI. Please verify information and consult additional sources as needed.