In a recent interview with Fox News, former President Donald Trump pledged to refill the U.S. Strategic Petroleum Reserve (SPR) if he wins the upcoming presidential election. Trump emphasized his commitment to replenishing the reserves, stating, "I was filling that up at levels that they've never seen before. We have to fill up the strategic reserves immediately."

Trump's promise comes as President Joe Biden's administration has been working to restock the SPR this summer. This effort follows a historic drawdown from the reserve in 2022, which was triggered by the conflict between Russia and Ukraine.

During his campaign, Trump has advocated for a major overhaul of U.S. energy policy. He has expressed strong support for fossil fuels, proposed significant regulatory rollbacks, and aims to reduce emphasis on renewable energy. Trump argues that these changes are crucial for lowering energy costs, achieving "energy dominance," and enhancing the competitiveness of American industries. This includes withdrawing from the Paris Agreement on climate change and easing regulations on oil and gas drilling.

However, Trump’s energy policies are not without controversy. His claims about the size of U.S. energy resources and the impact of energy on inflation have been criticized for inaccuracies. Furthermore, implementing his proposed energy agenda would require cooperation from Congress, whose composition remains uncertain until the election. Although Trump’s previous administration had a mixed record on energy and environmental policies, a second term might see him bringing in more experienced personnel to advance his deregulatory agenda. Recent shifts in the federal courts and Supreme Court decisions could also facilitate this agenda.

Trump's campaign has highlighted a return to fossil fuel dominance. Under his presidency, the U.S. became the world's largest oil producer in 2018, a position it has maintained. The rise in production, however, was largely driven by advancements in technology rather than policy changes. The U.S. is also the leading producer of natural gas, surpassing Russia by over 40%. Despite Trump’s promises, the U.S. is already a major player in the global fossil fuel market.

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