Austin, Texas – Today, President Joe Biden announced that the U.S. Department of Energy will release 50 million barrels of crude oil from the U.S. Strategic Petroleum Reserve (SPR) to address high energy prices. The following statement can be attributed to Ed Longanecker, president of the Texas Independent Producers and Royalty Owners Association (TIPRO): 

"The Biden Administration knows that any impact of an SPR release is a temporary, inadequate quick fix for addressing higher energy prices. The only real long-term solution to address energy prices is to support the build out of additional pipeline infrastructure and work with U.S. operators to responsibly produce oil and natural gas here to meet our own energy needs, while exporting our environmentally conscious product to our allies abroad. Short-sighted policy decisions like an SPR release or asking OPEC to increase production will have serious and long-lasting implications for our national security, economy and the environment.”

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