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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs