In response, they lowered fuel economy requirements on vehicles.

It's an old system underfunded for decades, cycled more than it was designed to handle, held together with what DOE officials told GAO are "Band-Aids." The loan mechanism solves the pricing problem, but it doesn't solve the fact that the physical infrastructure is eating itself with every cycle.

Also they are now in a trade war with their largest oil supplier.

Big brain move?

But keep on driving those big ass trucks and making people commute to work!! Bravo, America!

...the U.S. sells the oil on the open market, which in theory should bring oil prices down by increasing supply.

They're leaving it as subtext for some reason, but:

Gasoline is only as cheap as it is because we're draining this reserve. Which we cannot do forever.

The biggest positive thing I hope comes from all of this nonsense is that the world uses this as a turning point to renewables that they can control domestically or within their own communities. Everyone running their own thermal, solar, or wind would be amazing.

The largest global oil supply disruption on record has catapulted U.S. gasoline prices above $4 a gallon, rekindled inflation and helped set the stage for November's midterm elections.

The largest oil supply disruption on record is also the only self inflicted disruption that I'm aware of.

yeah timed to keep gas prices from exploding till after the election.

Don’t worry everyone, trump has already blamed Biden (somehow) and promised to restock the reserves with stolen oil from Venezuela (somehow).

Catastrophic floods in areas where reserves are are a very real risk.