In the final months of President Donald Trump’s presidency the Strategic Petroleum Reserve was in the spotlight as he tried to replenish it after years of neglect and at a time when oil was cheap.
But the Democrats cut it out of a bill it was included in, claiming it was a hit on Big Oil.
World Oil reported in March of 2020:
In recent years, Congress has used the stockpile as a piggybank for government programs, and Trump had previously approved reducing it by half, something that critics opposed even as the shale revolution allowed the U.S. to reduce its reliance on imports.
If the government filled the reserve to capacity at today’s prices, the purchase would cost about $2.6 billion