economy
May 8, 2026
Trump administration mulls drilling for oil under military bases
The administration of US President Donald Trump is considering extracting oil from under military bases to refill the depleted Strategic Petroleum Reserve, according to Bloomberg
TL;DR
- The Trump administration is considering extracting oil from beneath US military bases to replenish the Strategic Petroleum Reserve (SPR).
- The SPR is an emergency stockpile created to mitigate oil price spikes during supply disruptions.
- Global oil prices have exceeded $100 per barrel following aggression against Iran and the closure of the Strait of Hormuz.
- Energy Secretary Chris Wright suggested developing oil resources on federally owned lands, including military sites located in oil fields.
- Drilling under bases might allow the US government to directly own extracted oil, rather than buying it from private companies.
- Last September, the Trump administration sold drilling rights under nearly 2,000 acres at Barksdale Air Force Base.
- In March, the administration authorized the release of 172 million barrels from the SPR to combat soaring energy prices.
- The national emergency reserves currently hold approximately 415 million barrels, the lowest since the mid-1980s.