Fuel costs are at an all-time low and the US will be trying to take full advantage of it. The Federal Government is planning to spend about 94 million dollars to create a national stockpile of fuel reserve.
It is a strategic move to create a fuel reserve as per Angus Taylor – the Federal Energy Minister. He mentioned that the US already had full storages in Australia but it is always seeking new ways to expand. This might be a golden opportunity for them. Taylor has mentioned: “The opportunity to buy and establish a fuel reserve is an extraordinary one now with these historically low fuel prices.”