US Seeking ‘Creative’ Deals With Companies to Refill Oil Reserve

The Trump administration is examining ways to refill the the depleted Strategic Petroleum Reserve that would see private companies provide needed oil, Energy Secretary Chris Wright said Wednesday.

• “One of the things we are doing, true to this administration, is trying to find some more creative ways in which we do deals with private businesses that we can generate oil without any government cash and put it in the reserve,” Wright said at the Goldman Sachs Energy, Clean Tech & Utilities Conference in Miami
• NOTE: Wright appeared to be referring to the use of so-called royalty-in-kind in which the US ...