Reuters
Trump budget proposes closing Northeast heating oil reserve
WASHINGTON (Reuters) -President Donald Trump’s budget proposes to shut as soon as in a few months the Northeast Home Heating Oil Reserve, which stores 1 million barrels of diesel and was designed to protect consumers. The reserve, created in 2000 by former President Bill Clinton, holds enough for roughly 10 days of heating homes. Trump’s predecessor, former President Joe Biden, had proposed in November, 2022 to expand the reserve as a protection against spikes in heating oil prices and inflation after Russia’s full-scale invasion of Ukraine boosted energy prices.
