Strategic Petroleum Reserve and the Naval Petroleum Reserve PDF Download
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Author: United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Energy Resources and Materials Production
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 80
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Author:
Publisher:
ISBN:
Category : Petroleum reserves
Languages : en
Pages : 60
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Book Description
Author:
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 92
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Author: United States. Congress. Senate. Committee on Interior and Insular Affairs
Publisher:
ISBN:
Category : Petroleum reserves
Languages : en
Pages : 480
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Book Description
Considers S. 1586.
Author: Robert Bamberger
Publisher: Nova Publishers
ISBN: 9781594547867
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
To help prevent a repetition of the economic dislocation caused by the 1973-74 Arab oil embargo, Congress authorised the Strategic Petroleum Reserve (SPR) in the Energy Policy and Conservation Act (EPCA, P.L. 94-163). Physically, the SPR comprises five underground storage facilities, hollowed out from naturally occurring salt domes, located in Texas and Louisiana. Oil stored at one of the sites, Weeks Island, was transferred after problems with the structural integrity of the cavern were discovered in the mid-1990s. Hurricane Katrina made landfall early in the morning of August 29, 2005 inflicting severe damage and shutting down oil and gas production and refining activities in the Gulf of Mexico. Damage assessments continue. By September 2, three requests for loans totalling 8.5 million barrels had been approved; a few others are pending. The Administration also announced it was making 30 million barrels available. However, as a policy tool to respond to the crisis, the SPR has limitations because a barrel of crude contributes to product supply only if there is refining capacity to turn the crude into gasoline or diesel fuel. Consequently, recovery from the hurricane's effects will depend upon resumption of production and refining operations in the Gulf, and the ability to transport petroleum products. On August 8, 2005, the President signed the Energy Policy Act of 2005 (H.R. 6). The bill as enacted permanently authorises the SPR and requires, "as expeditiously as practicable," expansion of the SPR to its authorised maximum of 1 billion barrels. The Secretary is required to develop procedures for achieving the fill objective without "incurring excessive cost," or placing upward pressure on prices. Any fill policy is also to take into consideration minimising income foregone to the Treasury by filling the SPR with additional royalty-in-kind (RIK) oil.
Author:
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 358
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Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Petroleum industry and trade
Languages : en
Pages : 56
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Author: United States. Strategic Petroleum Reserve Office
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 88
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Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 48
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Author: United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Energy and Power
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 428
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Author: United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Energy Resources and Materials Production
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 80
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Book Description
