The plan is intended to add enough supply to prevent oil price spikes that could hurt consumers and businesses, while also assuring the nation's drillers the government will swoop into the market as a buyer if prices plunge too low. Earlier this year, Biden decided to sell 180 million barrels out of the Strategic Petroleum Reserve (SPR) to combat a potential supply crisis brought about by sanctions on oil-rich Russia following its February invasion of Ukraine. Those will be put up for bidding for delivery in December, a senior administration official said, and extra oil could also be made available if needed. They have called on the administration to take the option off the table, a move officials are unwilling to do. "We are keeping all tools on the table, you know, anything that could potentially help ensure stable domestic supply," the official said.

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