strategic petroleum reserve

Sen. Hoeven introduces legislation to fund $3 billion oil purchase for emergency reserve

The Bill was introduced by Republican Senator John Hoeven, Republican U.S. Representative Michael Burgess, and Democrat U.S. Representatives Lizzie Fletcher

FARGO, N.D. — North Dakota Sen. John Hoeven introduced legislation that aims to fund a government purchase of oil to help boost the industry that has been hit hard by reduced demand. The bipartisan bill asks for $3 billion in funding to purchase crude oil produced in the U.S. for the Strategic Petroleum Reserve.  This move comes after Congress declined…