Crs Report for Congress

Crs Report for Congress
Author: Congressional Research Service: The Libr
Publisher: BiblioGov
Total Pages: 22
Release: 2013-10
Genre:
ISBN: 9781294022640

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Congress authorized the Strategic Petroleum Reserve (SPR) in the Energy Policy and Conservation Act (EPCA, P.L. 94-163) to help prevent a repetition of the economic dislocation caused by the 1973-1974 Arab oil embargo. The Department of Energy (DOE) manages the SPR, which comprises five underground storage facilities, solution-mined from naturally occurring salt domes in Texas and Louisiana. The Energy Policy Act of 2005 (EPAct) authorized SPR expansion to a capacity of 1 billion barrels, but physical expansion of the SPR has not proceeded beyond 727 million barrels its inventory at the end of 2010. In addition, a Northeast Home Heating Oil Reserve (NHOR) holds 2 million barrels of heating oil in above-ground storage. EPCA authorized drawdown of the Reserve upon a finding by the President that there is a "severe energy supply interruption." Congress enacted additional authority in 1990 (Energy Policy and Conservation Act Amendments of 1990, P.L. 101-383) to permit use of the SPR for short periods to resolve supply interruptions stemming from situations internal to the United States. The meaning of a "severe energy supply interruption" has been controversial. EPCA intended use of the SPR only to ameliorate discernible physical shortages of crude oil. The government had ended ...

Report to the Congress on Alternative Methods for the Strategic Petroleum Reserve

Report to the Congress on Alternative Methods for the Strategic Petroleum Reserve
Author:
Publisher:
Total Pages: 443
Release: 1990
Genre:
ISBN:

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The purpose of this study is to fulfill the requirements of Public Law No. 101-46, approved June 30, 1989. The study describes and evaluates alternative methods for financing the future expansion of the Strategic petroleum Reserve (SPR), both to the current target level of 750 million barrels and to potential future levels of up to one billion barrels.

Crs Report for Congress

Crs Report for Congress
Author: Congressional Research Service: The Libr
Publisher: BiblioGov
Total Pages: 22
Release: 2013-11
Genre:
ISBN: 9781294246077

Download Crs Report for Congress Book in PDF, Epub and Kindle