Oil industry exec rips Biden's 'willy-nilly' energy policy, warns of another 'major' crisis in next few weeks

The Strategic Petroleum Reserve continues to be inappropriately 'politicized,' Sommers argues

Kayla Bailey / FOXBusiness

 

As the Strategic Petroleum Reserve (SPR) falls to "dangerously low" levels, American Petroleum Institute president and CEO Mike Sommers issued a warning to the Biden administration that a negligent plan to restore it could trigger another economically painful oil crisis.

"The Strategic Petroleum Reserve, unfortunately, has become the strategic political reserve. And we have grave concerns about how it has been so politicized. This is for emergency purposes, not to lower gasoline prices during a time during a political season," Sommers said Friday on "Mornings with Maria." "But I think doing this willy-nilly and doing it in a way that that doesn't make sense for the market we're in, we could be dealing with another major oil crisis here in the next few weeks."

"We're also real concerned, Maria, about how low it has gone. Lowest level since 1984, not necessarily because of market conditions, but because of political concerns," Sommers continued. Read more and see videos here.