U.S. Senator Kevin Cramer (R-ND) issued the following statement on the U.S. Department of Energy making the Strategic Petroleum Reserve storage capability available to struggling American oil producers:
“Thank you to Secretary Brouillette for taking a commonsense step to assist American energy producers who are hurt by the COVID—19 pandemic and the oil price war between Saudi Arabia and Russia. This move could help provide them with quick relief. Now is the time for nations with petroleum reserves to utilize their remaining capacity through purchases or leases.”
Energy Secretary Dan Brouillette announced the move today.
“Filling the SPR with crude oil, produced by American companies that are facing catastrophic losses and increased financial hardship, is a logical action for the federal government to take as we work to overcome the economic disruptions caused by COVID-19 and intentional, global oil market disruptions,” said Secretary Brouillette.
Find more information here.