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Plans to lease out space for domestic oil companies to store oil in the Strategic Petroleum Reserve (SPR) were announced by the U.S. Department of Energy (DOE) On Thursday, April 2.
Plans to lease out space for domestic oil companies to store oil
in the Strategic Petroleum Reserve (SPR) were announced by the U.S.
Department of Energy (DOE) On Thursday, April 2. At a time when the
price of oil has dropped to its lowest level in nearly two decades
and demand for fuel has decreased because of travel reductions due
to the COVID-19 pandemic, this decision is an important step by the
federal government to support the oil and gas industry.
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