Trump: Coronavirus-hit US to buy ‘large quantities’ of oil for reserves
President Donald Trump speaks in an address to the nation from the Oval Office at the White House about the coronavirus Wednesday, March, 11, 2020, in Washington. (Doug Mills/The New York Times via AP, Pool)
UNITED STATES — President Donald Trump said Friday the government will begin buying massive amounts of oil to cushion the economic blow from the coronavirus pandemic, and waive interest on student loans.
Oil prices have plummeted in recent days due in part to reduced demand amid a pandemic that has depressed economic activity, and after a spat between Russia and OPEC meant oil producers failed to agree to cut output.
The US government will “purchase at a very good price large quantities of crude oil” to go into the strategic petroleum reserve, Trump said on the White House lawn.
“We’re going to fill it right to the top.”
In addition, Trump waived interest “on all student loans held by federal government agencies.”
Edited by JPV
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