Trump Proposes Selling Off Half U.S. Strategic Oil Reserve
- Budget plan also calls for sale of post-Sandy gasoline stash
- Proposal Includes Alaska Oil Leasing, Gulf Royalties Repeal
Trump's Plan to Sell Off Half of U.S. Oil Reserve
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The White House plan to trim the national debt includes selling off half of the nation’s emergency oil stockpile and the entire backup gasoline supply, part of a broad series of changes proposed by President Donald Trump to the federal government’s role in energy markets.
Trump’s first complete budget proposal, released Tuesday, would raise $500 million in fiscal year 2018 -- and as much $16.6 billion over the next decade -- by drawing down the Strategic Petroleum Reserve.