REUTERS/Jonathan Ernst
- President Donald Trump is reportedly considering tapping emergency oil reserves ahead of the November midterm elections.
- But some analysts doubt a release would be effective.
- They see it as a way to shift the conversation away from Trump's decision to withdraw the US from the Iran deal.
As the Trump administration reportedly considers turning to emergency oil reserves, some experts see it as more of a distraction from foreign policy decisions that have faced blame for rising gas prices than a meaningful effort to address supply concerns in the energy market
The federal stockpile under consideration, called the Strategic Petroleum Reserve, is mainly intended to be a safety net the US can turn to during war or natural disaster. But non-emergency releases can be authorized by the president.
See the rest of the story at Business Insider
NOW WATCH: 5 science facts that 'Jurassic World: Fallen Kingdom' totally ignored
See Also:
- Trump’s proposed auto tariffs will lead to sharp spikes in the price of Americans’ most prized possession
- Stocks close mostly higher ahead of a wave of tech earnings
- Trump's unusual public criticism of the Federal Reserve could have unintended consequences
SEE ALSO: Trump takes victory lap after strong GDP report, predicts 'we're going to go a lot higher'
from Business Insider https://ift.tt/2mOtWkn
No comments:
Post a Comment