Trump budget would sell entire U.S. Northeast gasoline reserve




  • In US
  • 2017-05-23 18:04:46Z
  • By Reuters

NEW YORK (Reuters) - The White House budget proposal would liquidate about 1 million barrels of gasoline reserves created in the aftermath of Hurricane Sandy in fiscal year 2018, according to White House documents released on Tuesday.

The U.S. Northeast Gasoline Supply Reserve (NGSR) was created to minimize the impact of sudden supply interruptions, in this case due to the 2012 storm, the second-costliest hurricane in the country's history.

The gasoline reserve was established in 2014 as part of the Strategic Petroleum Reserve (SPR). It consists of gasoline blendstock and is stored in leased commercial storage terminals in Maine, Massachusetts and New Jersey.

"The NGSR has not been utilized and does not have the operational functionality that was envisioned post-Sandy. ... Because the NGSR's leased commercial storage contracts expire in early FY 2019, DOE proposes to divest the one million barrels of government-owned gasoline blendstock in FY 2018." the budget proposal says.

Sandy battered the Northeast's coast at the end of October 2012, destroying homes and buildings, closing refineries and disrupting gasoline supplies. The U.S. East Coast accounts for over a third of national consumption.

The White House budget for the fiscal year starting Oct. 1 is meant as a proposal and may not take effect in its current form. The budget also proposes to sell half of the nation's emergency oil stockpiles and open the Alaska National Wildlife Refuge to drilling.


(Reporting by Devika Krishna Kumar in New York; Editing by James Dalgleish and Jonathan Oatis)

COMMENTS

More Related News

Many of Trump's comments 'racially charged', says ex-White House staffer Omarosa
Many of Trump's comments 'racially charged', says ex-White House staffer Omarosa

Manigault-Newman's exit has revived focus on the lack of diversity in Trump's White House. Many of Donald Trump's comments have been "racially charged", the most high-profile black woman to have worked in his White House has said. Former reality TV star Omarosa Manigault-Newman, whose departure was announced this week, went on to say that despite those exchanges, she did not consider the president a racist.

Where's Barron? First son's absence from official White House Christmas portrait raises questions
Where's Barron? First son's absence from official White House Christmas portrait raises questions

The White House released the Trump family's first official Christmas portrait on Thursday -- capturing the president and first lady holding hands and smiling as they posed nestled between flags and Christmas trees.

Even Sean Spicer Isn't Sure Why Donald Trump Hired Omarosa Manigault Newman
Even Sean Spicer Isn't Sure Why Donald Trump Hired Omarosa Manigault Newman

Former White House press secretary Sean Spicer said Thursday he doesn't know why President Donald Trump hired Omarosa Manigault Newman.

Putin, Trump discuss N Korea in phone call
Putin, Trump discuss N Korea in phone call

Vladimir Putin and Donald Trump discussed the crisis over North Korea's nuclear program in a phone call Thursday, in which the US president took the unusual step of thanking his Russian counterpart for praising America's economy. The two heads of state discussed "the situation in several crisis zones, with a focus on solving the nuclear issue on the Korean peninsula," the Kremlin said in a statement, without elaborating. "President Trump thanked President Putin for acknowledging America's strong economic performance in his annual press conference," it said.

Former press secretary shares heartbreaking memory of how Obama broke down over Sandy Hook shooting
Former press secretary shares heartbreaking memory of how Obama broke down over Sandy Hook shooting

On the fifth anniversary of the deadly massacre that took place at Sandy Hook Elementary School, former President Barack Obama's press secretary took to social media to remember the aftermath of the attack.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: US

facebook
Hit "Like"
Don't miss any important news
Thanks, you don't need to show me this anymore.