U.S. Seeks to Boost Oil Reserves

$3 billion sought to fill the nation’s stockpile.

The Trump administration recently announced that it would be seeking $3 billion from Congress in order to completely top off the oil reserves of the nation. The president ordered the Energy Department to assure the nation would meet its energy needs over the coming days. The price of oil has dramatically decreased over the past few weeks to less than $21 per barrel on Wednesday.

The U.S. currently has a 713.5 million barrel strategic reserve of oil. Because prices have dropped, Energy Secretary Brouillette said, “It’s a common-sense move. Everyone who’s done any personal investment knows you do your best to buy low and sell high.” Congress has not yet approved the use of these funds to fill up the reserves. 

As the Lord Leads, Pray with Us…

  • That God would guide Congress to the best use of resources during the COVID-19 outbreak.
  • For President Trump to have wisdom on how to lead the nation. 
  • For Secretary Brouillette to be given guidance on the best route forward for the energy needs of the nation.

Sources: AP, CNN, NPR


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