8,476 Active Recruiters     Over 2 Million Candidates Globally

Advanced
  1. Keep me logged in
  2. forgot password
cancel

Checkout Jobs Basket (0)

You can checkout a maximum of 150 jobs.

Signup Better for Candidates

  • Create a free virtual CV and let recruiters find you
  • Automatically have your profile matched to suitable Oil & Gas positions
  • Link to your profile using it as a free online CV
  • Store all your employment documents to your profile for easy sending
  • Always receive feedback on positions applied for

Signup Better for Recruiters

  • Suitable candidates automatically matched to your position
  • View candidate profiles for free
  • No more waiting for candidates to respond to job advertisements
  • Only ever pay when you match a candidate to a position
  • No more cold calling and sorting through out dated CVs

Trump Proposes Selling Oil From Strategic Reserve to Fund Budget Plan

Published in Oil Industry News on Thursday, 13 February 2020


Graphic for News Item: Trump Proposes Selling Oil From Strategic Reserve to Fund Budget Plan

President Donald Trump has proposed selling 15 million barrels of oil from the U.S. emergency stockpile as part of his fiscal 2021 budget plan.

The proposal, which requires approval from Congress, would use the proceeds of the sale to fund certain Energy Department activities, including the environmental remediation of an oil field in Elk Hills, California, that was once owned by the government.

The Strategic Petroleum Reserve, the largest government stockpile in the world, was set up after the Arab oil embargo in the 1970s and has been tapped in response to Operation Desert Storm in 1991, Hurricane Katrina in 2005, and Libyan supply disruptions in 2011.

The proposed drawdown would be in addition to about 260 million barrels of congressionally mandated sales through fiscal year 2027 intended to raise money for government programs.

Trump in 2017 called for selling off half the stockpile -- which currently totals 635 million barrels -- to help cut the budget deficit.

Source: www.worldoil.com

Please leave comments and feedback below





Tags

American Oil and Gas, Glut Oil and Gas, American Glut Oil and Gas, Oil and Gas News








Oil and Gas News Archive


Latest Oil & Gas News







Featured Companies

  • View All JobsOMPA

    Offshore Marine People & Academy (OMPA) is a global provider of personnel and training to the renewables, oil & gas, telecommunications and marine industries.

    With over 15 years' industry experience, we work with candidates to match them to the right roles and equip them with the skills and knowledge needed to succeed. Our job is to exceed your expectations.

    Visit us online: offshorempa.com

  • View All JobsChronos Oil and Gas

    Chronos Oil and Gas is one of the fastest growing and best placed recruitment agencies in the sector.

    With over 300,000 candidates on our database and an international team of specialist recruiters we work with clients to staff major projects around the world.

    Register your CV at www.chronosoilandgas.com

  • View All JobsNatural Resources

    Natural Resources is a UK based recruitment company providing personnel of all disciplines and nationalities worldwide.

    We represent clients and candidates at all levels who operate globally within oil & gas, renewables, nuclear, power, mining, marine, drilling, construction and petrochemicals. Our client base includes energy and construction.

    Visit Natural Resources at natural-resources.com