Trump admin wants to sell 1 million barrels of diesel fuel reserve for $100 mn
The Trump administration wants to put a 1 million barrel cache of diesel fuel on the market, saying the reserve meant to provide an emergency supply of home heating oil for the Northeast has never been used for its intended purpose.
The sale and closure of the Northeast Home Heating Oil Reserve would generate $100 million to be used for deficit reduction, according to Department of Energy budget details recently made public. The sale of the reserve would require approval by Congress, which gave the Biden administration the green light to sell off and close a 1 million barrel emergency cache of gasoline last year.
The diesel fuel reserve, which is housed in commercial storage facilities across the Northeast, was used in the aftermath of Hurricane Sandy in 2012 to provide fuel for emergency responders in New York and New Jersey, as well as in the wake of snow storms that same year, according to the Energy Department.
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