Chevron CEO Criticizes Biden’s SPR Strategy ...Middle East

OILPRICE - Economy
Chevron CEO Criticizes Biden’s SPR Strategy
source : OILPRICE ( Middle East ) () 45
Chevron CEO Mike Wirth spoke at the Economic Club of New York on Thursday to warn about the Biden administration's cunning plan to refill the Strategic Petroleum Reserve around the $70 a barrel level. He said filling the SPR at that level is "not necessarily a wise move."  Wirth explained the SPR should be refilled regularly to maintain adequate reserves at reasonable levels while limiting volatility in price. He said Biden's communication to the oil industry about a minimum price floor at which the US government will purchase crude provides…

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