"Buried in large, underground salt caverns along Texas and Louisiana's coast, the world's largest supply of emergency crude oil has been an invaluable resource for the U.S. For five decades, the Strategic Petroleum Reserve has helped the U.S. government conduct foreign policy and calm markets and prices at the pump in the event of supply disruption. Such is the SPR's importance that the Trump administration is set to build another reserve in its ilk,"
"President Donald Trump is planning a critical minerals stockpile known as Project Vault, Bloomberg reported on Monday, citing senior administration officials. The plan will combine a $10 billion loan from the U.S. Import-Export Bank with $1.67 billion in private capital, according to the report. A White House spokesperson confirmed to Fortune that the plan existed. A stockpile is only the latest step Trump has taken to keep critical minerals flowing for American industries,"
Large underground salt caverns along Texas and Louisiana coasts hold the Strategic Petroleum Reserve, the world's largest emergency crude oil stockpile. For five decades the SPR has supported U.S. foreign policy and stabilized oil markets and pump prices during supply disruptions. The Trump administration plans Project Vault, a critical minerals stockpile focused on rare earths, financed by a proposed $10 billion U.S. Export-Import Bank loan plus $1.67 billion in private capital, with White House confirmation. The administration has prioritized secure critical mineral supplies for manufacturing and foreign policy. Historical oil embargoes, including the 1973–74 production cuts that caused stagflation, motivated strategic stockpiling.
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