Go figure, the SPR is there for military reasons, and it would take an enormous release (depletion) to lower prices, at the same time dealing another blow to the industry which will be tasked with replacing those reserves (at top dollar).
The oil drilling sector is slowly recovering, and upChuck just wants to hammer it before midterms because it is an incredibly Conservative industry. The more people he can put out of work, the less campaign money will go to the opponents of this Communist dreck. (besides, Venezuela messed with their oil industry before they pretty much collapsed their economy, and these idiots seem to be following that model).