Economy US lawmakers propose $3B funding for buying oil for SPR

A bipartisan group of American lawmakers introduced a bill on Tuesday which would ensure $3 billion in funding for buying oil for the United States Strategic Petroleum Reserve (SPR) in order to support the country’s energy companies amid a drop in crude prices. “This legislation provides important support to our domestic energy industry at a time when they are not only challenged by the impacts of the coronavirus but also a global oil price war. Purchasing US oil for the SPR will not only benefit our energy producers, but also taxpayers and our national security,” Senator John Hoeven (pictured), who introduced the legislation with Representatives Lizzie Fletcher and Michael Burgess, stated. In March, the US Energy Department announced it will buy 30 million barrels of crude oil for its strategic reserve at the direction of President Donald Trump. Nice Note: For a fact without a doubt oil will do a zoom zoom zoom. Why its simple   … its a trillion dollar industry and they are not Not NOT going to lose it. Anymore then Boeing going down either.