U.S. Secretary of Energy Energy Secretary Dan Brouillette told Newsmax TV on Friday his aim to buy up to 30 million barrels of crude oil to top off the nation's strategic petroleum reserve will be the nation's "energy security.”
In an interview on “The Chris Salcedo Show,” Brouillette said the move will pay off big in the future.
“It’s a bank of oil, if you will… so that we’re not in distress,” he said.
According to Brouillette, the purchase is a “great opportunity.”
“It sends a strong message that we believe in [oil producers] and put that oil into the stratagic reserve,” he said, noting the nation would “buy low and sell high in the future.”
He said the nation won’t ever have to be held hostage to oil producers overseas.
“Back in 1970s [nations overseas] banded together and decided to not sell us oil,” he said. “Now we’re now an exporter… this reserve is important for our energy security.”
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