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The US may sell out of strategic oil reserves

Strict regulations which US politicians have defended as a question of national security, have been an obstacle to selling out of the country's oil reserves for many years. Now the politicians are ready to ease the rules.

Photo: Øyvind Hagen - Statoil

The need for cool cash to improve the US highways may now cause the country's politicians to reconsider an old restriction from past decades against selling oil from the country's large oil stockpile.

This concerns selling oil from the strategic reserves which the US established in 1973 in relation to the oil crisis as a defense against running out of energy in an emergency. But according to the Wall Street Journal, the politicians in the Senate are in the midst of serious deliberations about whether to lift the prohibition on selling out of the reserves - the so-called Strategic Petroleum Reserves - in order to generate money for a much-needed improvement of the US highway system.

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