Trump Proposes Selling 15 Million Barrels From U.S. Oil Reserve
- Proceeds to fund remediation of former government oil field
- President’s budget proposal requires congressional approval
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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.