Will Congress Lose Money by Selling Oil?

Congress plans to sell 58 million barrels of oil from the Strategic Petroleum Reserve over eight years to finance new government spending. The plan relies on optimistic oil price predictions, which may not materialize, potentially leading to financial losses. The predictable sales schedule could be exploited by traders, transferring taxpayer money to commodity traders. While the deal includes funds to upgrade reserve facilities, some lawmakers are uneasy about using the reserves as a financial resource.

How does the selling of oil potentially affect American taxpayers?

What is the significance of the 58 million barrels of oil mentioned in the budget deal?