Privatizing the Strategic Petroleum Reserve
By Institute for Energy Research —— Bio and Archives--June 8, 2017
Global Warming-Energy-Environment | Comments | Back To Full Article
The Trump Administration is reportedly considering plans to sell off about half of the Strategic Petroleum Reserve (SPR), which is the federal government's nearly-700 million barrel stockpile of crude oil. Such a move would help ease the budget crunch (bringing in about $17 billion at current oil prices) but would also (partially) return the function of resource allocation back towards the private sector. If the government leaves prices alone, the market is the best mechanism for storing reserves and easing supply shocks.
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