Lawmakers are pushing legislation that could result in the selling off of 266 million barrels of oil from the country’s Strategic Petroleum Reserve (SPR) over the next decade, mostly to fund more government spending.
Legislation for health care, highway funding and financing the government could end up drawing on down on oil supplies meant for emergency situations. If all three bills are signed into law, some 266 million barrels, or nearly 40 percent, of the current 695 million barrel SPR would be sold off in the next decade to raise about $23 billion. “The 114th Congress has introduced three separate bills that would
fund non-energy policy goals by mandating crude oil sales from the
Strategic Petroleum Reserve,” according to an analysis by the consulting
firm ClearView Energy. ClearView noted the health care bill, called the 21st Century Cures
Act, was the least likely to hit President Barack Obama’s desk despite
passing out of the House with a veto-proof majority. On the other hand,
the two other bills passing a budget and funding highways
are more pressing issues to Republican and Democratic lawmakers. Just
those two bills alone would draw down on 186 million barrels...more
Issues of concern to people who live in the west: property rights, water rights, endangered species, livestock grazing, energy production, wilderness and western agriculture. Plus a few items on western history, western literature and the sport of rodeo... Frank DuBois served as the NM Secretary of Agriculture from 1988 to 2003. DuBois is a former legislative assistant to a U.S. Senator, a Deputy Assistant Secretary of Interior, and is the founder of the DuBois Rodeo Scholarship.
Sunday, November 01, 2015
Obama, GOP Want To Sell Off 40 Percent Of US Strategic Oil Reserves To Fund Gov’t Programs
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