in a sane world, the feds would be buying petroleum to save for the next
rainy day.
instead the gress of cons stick their fingers in the cookie jar .... again.
Andrew Strasfogel via Mercedes wrote on 3/11/20 10:36 AM:
The Department of Energy this morning postponed its upcoming sale of crude
oil from the nation's Strategic Petroleum Reserve following a historic dip
in oil prices that has roiled world markets.
The move halts the sale of some 12 million barrels of crude from three of
the reserve's locations along the Gulf Coast. That sale was mandated by
Congress as part of the Bipartisan Budget Agreement Act of 2015.
"In light of the recent fluctuations in global oil markets, the U.S.
Department of Energy is suspending the recently announced sale of crude oil
from the Strategic Petroleum Reserve (SPR)," spokeswoman Jess Szymanski
said in the announcement.
Oil markets saw their biggest drop in 29 years yesterday as fears of the
new coronavirus combined with a price war between Russia and Saudi Arabia
to create market uncertainty (*Greenwire
<https://www.eenews.net/stories/1062559725>*, March 9).
Prices dropped to as low as $31 per barrel but have seen a slight increase
to $33 today. President Trump spoke with Saudi Crown Prince Mohammed bin
...
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