Congress readies to sell off empty space in strategic petroleum reserve
https://www.chron.com/business/energy/article/Congress-readies-to-sell-off-empty-space-in-13105304.phpJuly 26, 2018
What to do with a vast government complex of underground salt caverns that once held hundreds of millions of barrels of oil?
As Congress steadily sells off the oil contained within the Strategic Petroleum Reserve - residing 1,000 feet beneath the surface of coastal Texas and Louisiana - Democrats and Republicans are now exploring a concept that would have been inconceivable a decade ago: Allowing others to store oil in unused sections of the reserve.
Under a new bill sponsored by Rep. Joe Barton, R-Ellis, and Rep. Bobby Rush, D-Illinois, the government would make the more than four-decade old facility available to both the private sector and foreign governments, adding 200 million barrels of storage capacity at a time increasing volumes of crude are flowing to the Gulf Coast....
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Why would we accept the federal government using taypayer funded facilities to compete with private industry?