The administration of U.S. President Barack Obama intends to allocate an additional 1.5-2 billion dollars on the infrastructure to store reserves of oil. On Wednesday, September 7, Reuters reports. Proposal sent for approval to Congress.
The funds will be received from the sale of strategic oil reserves, said the Agency. In the 2017 financial year we are talking about the sale of eight million barrels of oil. At the current stock exchange quotations, this volume is estimated at $ 400 million.
Provisions will be implemented in addition to those already approved by Congress for sale in 2018-2025 years 124 million barrels, the proceeds of which should help to improve the road infrastructure.
August 22, the newspaper the Wall Street Journal reported that the producers of shale oil in the United States intend to increase their investments in production if prices will stay at around $ 50 per barrel or higher.
18 December, Obama signed the draft of the U.S. budget for fiscal year 2016, removing introduced over 40 years ago the ban on us oil exports.
