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Trump wanted to, Congress stymied him to "stick it" to him.
by debacle 4y ago
Trump wanted to, Congress stymied him to "stick it" to him.
- pclmulqdq 4y agoHe bought a ton of it too, still, just less than he wanted.
- mullingitover 4y agoSource? I’m finding conflicting information about this claim[1] > …the level of the SPR actually declined while President Trump was in office. [1] https://www.forbes.com/sites/rrapier/2022/04/01/no-former-president-trump-did-not-fill-the-strategic-petroleum-reserve/amp/ https://www.forbes.com/sites/rrapier/2022/04/01/no-former-pr...
- pclmulqdq 4y agoHe didn't fill it, and he sold off a lot more than he bought (particularly around 2018, when oil was near a local max). He started buying in 2020. He wanted to fill it, but ran out of money in that part of the budget before he could, and Congress did not want to raise it. Here's a primary source: https://www.energy.gov/articles/department-energy-executes-direction-president-trump-announces-solicitation-purchase-crude https://www.energy.gov/articles/department-energy-executes-d...
- jhanschoo 4y agoSo how do you know this?
- koolba 4y agoBecause we were alive when it happened: https://www.cnbc.com/2020/03/26/us-suspends-plans-to-buy-oil-after-funding-is-left-out-of-2-trillion-stimulus-package.html https://www.cnbc.com/2020/03/26/us-suspends-plans-to-buy-oil... Schumer claimed it was a “$3B bailout for the oil industry” and considered removing it from the stimulus bill a “win”.
- jhanschoo 4y agoThanks for helping to contextualize the parent comment.
- michaelmrose 4y agoDidn't he also suggest paying oil companies to keep in the ground and call it a strategic reserve and gifting oil companies the storage space in place of actually topping it off? A stopped clock is right twice a day. I believe some parties actually considered the money billions of money paid to bail out the oil industry and opposed it on principal.