"Budget Deal Envisions Largest Oil Stockpile Sale In History"

"The two-year budget deal reached by congressional leaders would set up the biggest sale in history from the nation’s emergency oil stockpile.

In an effort to partially pay for new spending, the budget agreement would sell 100 million barrels of the Strategic Petroleum Reserve (SPR) in the next decade.

Taken with sales Congress authorized last year to pay for other spending, the deal would leave the Department of Energy-managed reserve with just over 300 million barrels, or about half its previous size.

The deal takes a big chip out of a landmark safety net established in the 1970s to guard the United States from the effects of international turmoil or other big supply disruptions."

Timothy Cama reports for The Hill February 8, 2018.


"U.S. Oil Reserve Would Fall Nearly in Half Under Budget Deal" (Bloomberg)

Source: The Hill, 02/09/2018