Quote:
Originally posted by ltl/fb
Is there a provision requiring the president to buy? It does not sound like there is. Therefore, it seems unlikely that there would be a provision about stopping buying. Also, it seems like some article or other would mention the fact that the president is required to buy, if that were a fact.
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There's not. There are statutory restrictions on when sales can be ordered.
But we ought to clarify one other thing. We're not "buying" oil for the reserve. Rather, we use "royalty-in-kind" payments of oil in lieu of paying federal royalties on extracted oil. While it takes the oil off the market, the government is not making actual cash payments.
Also, hte reserve is nearly full, so it's not like the "purchases" are taking too much out of the market.
