Trump Budget Would Cut Strategic Petroleum Reserve, Slash Drilling Payments To Gulf States

To balance his budget in the next 10 years, President Trump wants to sell off half of the nation’s petroleum reserves, open up sensitive areas of Alaska to drilling and end federal programs that direct oil revenue to Gulf restoration projects.

Those cuts — along with broader budget reductions at the EPA, Energy Department and various federal agencies conducting scientific and climate research — would mark a significant shift in the federal government’s approach to energy exploration and security, and in Washington’s willingness to share revenues with state partners.

The energy realm is just one area the administration singled out in its fiscal year 2018 spending proposal. Programs at the Justice Department and Labor Department, Community Development Block Grants, literacy projects and other initiatives also would lose all funding under the proposed budget.

On energy, officials say the massive cuts, while difficult to identify, are consistent with the administration’s broader goals.

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