"Mnuchin said the administration was also exploring the opportunity to store another several hundred million barrels of oil, which would exceed the current physical capacity of the government’s Strategic Petroleum Reserve.
The administration has been considering a way around that physical barrier, by buying undeveloped oil reserves and making them part of the U.S. emergency stockpile. Under the approach, the government would effectively pay some domestic drillers to halt production indefinitely -- or at least until prices rebound."
Creative thinking or??
SEA Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
