Government Energy Policy, Business and Technology

White House proposes selling half of SPR in 2018 budget request

Oil & Gas Journal: The White House proposed selling nearly half the crude oil in the US Strategic Petroleum Reserve over 10 years beginning in fiscal 2018 as part of the proposed federal budget it released on May 23.

It also called for an end to sharing federal revenue from new Gulf of Mexico oil and gas production with four Gulf Coast states that the 2006 Gulf of Mexico Energy Security Act authorized, and a start to leasing within the Arctic National Wildlife Refuge in fiscal 2022.

The budget proposal provided the first glimpse of how the administration of US President Donald Trump intends to pay for significant reforms it initially outlined in its earlier fiscal 2018 budget blueprint (OGJ Online, Mar. 16, 2017). The president reinforced commitments to streamline federal regulations and expand leasing and development of federally managed oil and gas resources in his budget message.

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