The United States plans to sell 58million barrels of strategic reserve crude oil to help the government budget
the United States plans to sell 58million barrels of strategic reserve crude oil to help the government budget
October 28, 2015
[China paint information] the U.S. Congress received a budget proposal on Tuesday (October 27). The outstanding advantage of LFT from the U.S. strategic crude oil within six years from 2018 is that 58million barrels of crude oil will be sold from the high stiffness and strength reserves, So as to help pay various government budgets
according to the official data of the US government, the current strategic crude oil reserve has a total of 695million barrels of crude oil, mainly distributed in Texas and Louisiana. Some lawmakers have been hoping to fund the government's medical and pharmaceutical projects and highway maintenance costs by selling reserve crude oil assets
economists said that selling strategic crude oil reserve resources is a right decision, but the current time is wrong, because crude oil prices continue to fall. The White House has asked Congress to pass the budget compromise proposal
John Thune, chairman of the Senate Commerce and Transportation Committee, recently said that the proposal to sell strategic crude oil reserves to cover transportation construction costs is feasible. He added: "strategic crude oil reserve assets can help in many ways."
however, when asked whether the market consumption of non-toxic and safe plasticizers can be made up by selling crude oil reserve assets at the same time, which will increase the gap and subsidize highway maintenance costs, Thune said: "this issue has been discussed, but not all lawmakers support this plan."
Lisa Murkowski, chairman of the Senate Energy Committee, is firmly opposed to selling strategic crude oil reserve assets to help non energy related government projects, such as highway maintenance and medical drug projects
although Murkowski has not publicly criticized this proposal at present, as the proposal is submitted to the Energy Commission, the speed of her experiment is bound to be carefully reviewed