Not everyone is a fan of the recent lifting of the U.S. oil export ban.
"I would be very cautious for the Department of Energy to go ahead and move forward and try to sell some oil right now," said Bill Richardson, former U.S. energy secretary, in an interview with CNBC on Wednesday.
"I think that's a bad idea," he told "Power Lunch." "You use the Strategic Petroleum Reserves in emergencies ... not when you want to affect prices."
His comments come after reports of U.S. oil being exported to Europe for the first time in 40 years. Congress lifted the ban in late 2015.
The House also mandated through the Budget Act that 5 million oil barrels from the Strategic Petroleum Reserve be sold yearly until 2021. In this deal, the Department of Energy has been given discretionary authority to begin sales this year, and it's mandatory that sales start by 2018.