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US Uses Oil as a Political Weapon - German Newspaper

© Flickr / Sergio RussoOil barrels
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German newspaper Die Welt believes that the United States' decision to start selling oil from their strategic reserves amounts to a growing resource war against Russia, Saudi Arabia and Iran.

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Recently, the US Congress approved a package to sell off part of their strategic oil reserves, as a means to increase the budget.

However, as a writer for Die Welt wrote, this shows Washington hiding its desire to unleash a global war on raw materials.

The US authorities have chosen to sell their oil reserves at a price that is less than half of what it was last year. In the middle of 2014 a barrel of oil cost about $ 100, while today’s price does not exceed $ 50.

"Why Washington announced plans to sell the reserve at a time when the prices are so low?" the newspaper asked, assuming that the move is not just about money, but about politics.

According to the newspaper, the decision to sell a part of the strategic oil reserve is aimed at pressuring the energy market and weakening the states for which oil production is the primary source of income.

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However, some experts argue that the reserve sell off will be a way for the US to free up critical space at a time when storage capacity in the United States is running out. The claim that the US will use this insignificant amount of oil to start a global commodity war is far from reality, they believe.

The White House and the US Congress agreed to sell 8% of the total US oil reserves, currently amounting to 695 million barrels. The US is planning to sell 5 million barrels a year from 2018 to 2023, and 10 million barrels a year after 2023. In 2025, revenues from the sales of almost 60 million barrels will be transferred Treasury.

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