Senate minority leader Chuck Schumer boasted last month that Democrats stripped out a “$3 billion bailout for big oil” from the $2 trillion coronavirus economic relief bill.

The “bailout” was a plan to purchase 30 million barrels of oil for the Strategic Petroleum Reserve. At the time, oil was trading at about $20 a barrel.


Today, oil was trading at negative $38 a barrel.

Schumer may oppose a big-government bailout for big oil, but can he really say no to a big-oil bailout for big government?