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Trump proposes selling off half of US oil reserves

His first complete budget proposal says plan would raise US$500 million in fiscal year 2018 and as much as US$16.6 billion over the next decade

Published Tue, May 23, 2017 · 09:50 PM
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Washington

THE White House plan to trim the national debt includes selling off half of the nation's emergency oil stockpile, part of a broad series of changes proposed by President Donald Trump to the federal government's role in energy markets.

Mr Trump's first complete budget proposal, released in part on Monday, would raise US$500 million in fiscal year 2018 by draining the Strategic Petroleum Reserve, and as much as US$16.6 billion in oil sales over the next decade.

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