Skip to content

Pentagon a Big Beneficiary of Oil Plunge

“The plummet in oil prices – a more than 40% drop since last summer – is making it easier for everyone to fill up their tank this winter. But no one stands to benefit more, at least in the short term, than the Pentagon,” the Wall Street Journal reports.  

“The Department of Defense is the largest consumer of petroleum in the United States, and it buys oil and fuel in a way that lets it take advantage of falling fuel prices. In other words, it isn’t locked into long-term price contracts. That means the Pentagon stands to save a substantial amount of money given the big oil correction. And at a time of budget caps and spending cuts, every billion dollars counts.”  

“Just how much is the Pentagon saving? It’s difficult to say.”

Recent Stories

Strange things are afoot at the Capitol

Photos of the week ending May 24, 2024

Getting down on the Senate floor — Congressional Hits and Misses

US-China tech race will determine values that shape the future

What’s at stake in Texas runoff elections on Tuesday

Democrats decry ‘very, very harmful’ riders in Legislative Branch bill