yes, if only the storage was free, and the commodity easy to transport to areas where demand was.
Trump tried to do exactly that in the original 2020 COVID stimulus bill: https://www.cnbc.com/amp/2020/03/26/us-suspends-plans-to-buy...
Original plan was to buy $3B worth of oil at about $24/barrel to fill the strategic petroleum reserves. But the Democrats blocked it in the Senate and demanded it’s removal from the bill.