In the News Oil prices fall below zero and Trump sees a buying opportunity
Josiah Neeley, a senior fellow focusing on energy issues at the free-market oriented R Street Institute, said buying oil for the national stockpiles may be “sensible” because of prices but wouldn’t solve the absence of demand.
“The amount of extra oil that you would be able to take off the market through that mechanism is probably pretty limited compared to the overall situation,” Neeley told CQ Roll Call. “It seems like demand is going to be significantly depressed, and that’s the reality that we’re living in.”
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