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Get Strategic Petroleum Reserve (Energy Policies, Politics and PDF

By Albert L. Strait

ISBN-10: 1606922904

ISBN-13: 9781606922903

The Strategic Petroleum Reserve (SPR) was once created in 1975 to assist guard the U.S. economic climate from oil offer disruptions and it at the moment holds approximately seven hundred million barrels of crude oil. The power coverage Act of 2005 required the dep. of power to extend the Strategic Petroleum Reserve's greatest garage potential to one billion barrels of crude oil. because the division of strength (DOE) starts off to extend the SPR, previous reports may also help tell destiny efforts to fill the reserve within the cheapest demeanour. therefore, this ebook will specialize in the criteria that specialists suggest be thought of whilst filling and utilizing the SPR, to what volume the SPR can shield the U.S. financial system from harm in the course of oil offer disruptions and less than what situations may an SPR greater than its present dimension be warranted. As a part of this publication, GAO built oil provide disruption eventualities, used types to estimate power monetary damage, and convened thirteen specialists together with the nationwide Academy of Sciences. this is often an edited, excerpted and augmented version of a GAO and U.S. division of power e-book.

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Economy from oil supply disruptions and currently holds about 700 million barrels of crude oil. The Energy Policy Act of 2005 directed the Department of Energy (DOE) to increase the SPR storage capacity from 727 million barrels to 1 billion barrels, which it plans to accomplish by 2018. Since 1999, oil for the SPR has generally been obtained through the royaltyin-kind program, whereby the government receives oil instead of cash for payment of royalties on leases of federal property. The Department of Interior‘s Minerals Management Service (MMS) collects the royalty oil and transfers it to DOE, which then trades it for oil suitable for the SPR.

5 billion barrels. Secretary of Energy William Bodman indicated that DOE‘s goal was to have this expansion completed by 2027. : Aug. 24, 2006). : Mar. 28, 2007). : Apr. 16, 2004). : Jan. 9, 2003). 6 For information on the composition of the SPR, see: DOE, Office of the Assistant Secretary for Fossil Energy, Strategic Petroleum Reserve: Annual Report for Calendar Year 2006. 7 The weight of oil is measured by its gravity index. According to DOE‘s EIA, light oil is greater than 38 degrees gravity, while intermediate oils, such as those in the SPR, are 22 to 38 degrees gravity.

16, 2004). : Jan. 9, 2003). 6 For information on the composition of the SPR, see: DOE, Office of the Assistant Secretary for Fossil Energy, Strategic Petroleum Reserve: Annual Report for Calendar Year 2006. 7 The weight of oil is measured by its gravity index. According to DOE‘s EIA, light oil is greater than 38 degrees gravity, while intermediate oils, such as those in the SPR, are 22 to 38 degrees gravity. 8 See DOE, Office of the Deputy Assistant Secretary for Petroleum Reserves, Strategic Petroleum Reserve Crude Compatibility Study (December 2005).

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Strategic Petroleum Reserve (Energy Policies, Politics and Prices) by Albert L. Strait


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