Strategic Reserve Update

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Yep. Our infrastructure wasn’t designed for this madness.

intercst

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A plan to buy about 77 million bbl of crude oil for the SPR was announced by the Trump administration Mar. 13, and the US Department of Energy issued a solicitation Mar. 19 to buy as much as 30 million bbl of oil in a first step for that plan (OGJ Online, Mar. 19, 2020).

But Sen. Chuck Schumer (D-N.Y.), the Senate minority leader, circulated word Mar. 25 to fellow senators saying the SPR purchase language was removed from the coronavirus bill, according to reports from Capitol Hill. He reportedly referred to the oil purchase plan as a “$3 billion bailout for big oil.”

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