Trump Could Tap Oil under U.S. Military Bases to Top Strategic Reserve

AI Summary

The Trump Administration is exploring strategies to replenish the U.S. Strategic Petroleum Reserve by potentially accessing oil reserves under military bases. This approach is being considered to address the ongoing global supply crisis due to the Iran war.

The Trump Administration is looking for innovative ways to tap more crude from federal lands as the U.S. Strategic Petroleum Reserve (SPR) is being depleted again by emergency stock releases amid the global supply shock from the Iran war. One of these creative new ways to refill the SPR could be the potential tapping of oil from land at U.S. military bases or other sites of the Department of War, a source with knowledge of private information told Bloomberg this week.     For the second time in four years, the U.S. Administration…