EnergyWatch

Trump proposes selling off half the US strategic oil reserve

Half of the nation's emergency oil stockpile could be sold off in order to trim national debt, according to a proposal from the Trump administration.

Photo: Pablo Martinez Monsivais

The White House plan to trim the national debt includes selling off half of the nation’s emergency oil stockpile, part of a broad series of changes proposed by President Donald Trump to the federal government’s role in energy markets.

Trump’s first complete budget proposal, released in part on Monday, would raise USD 500 million in fiscal year 2018 by draining the Strategic Petroleum Reserve, and as much USD 16.6 billion in oil sales over the next decade.

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