Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 80
Book Description
Pursuant to a congressional request, GAO reviewed the Department of Energy's (DOE) plan for selling oil from the Strategic Petroleum Reserve (SPR) to analyze: (1) the plan's potential effects on world oil prices; (2) the issues affecting who would get SPR oil under this plan; and (3) how the plan compares with alternative sales mechanisms. GAO found that the plan's market approach would probably limit oil price increases in a severe supply disruption and allow broad participation in the sale. However, there were potential problems identified with oil distribution under the plan. DOE, in taking a market approach to the distribution, plans to award SPR sales contracts to the highest bidders who would be considered eligible buyers. This would allow any foreign country to buy the oil and does not limit the amount that a single buyer could purchase at a given sale. GAO also examined alternative sales methods of interest to Congress, including: (1) the continuous sale of options to buy SPR oil in advance of an oil emergency; and (2) allocation of SPR oil at government-set prices. Most industry representatives opposed the sale of SPR options because of their concerns about the length of time during which options could be exercised and who should be eligible to buy the options. GAO found that uncompetitive allocation of SPR oil would entail administrative difficulties that would undermine its intended benefits since it would be difficult to develop criteria for fair distribution.
Evaluation of the Department of Energy's Plan to Sell Oil from the Strategic Petroleum Reserve
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 80
Book Description
Pursuant to a congressional request, GAO reviewed the Department of Energy's (DOE) plan for selling oil from the Strategic Petroleum Reserve (SPR) to analyze: (1) the plan's potential effects on world oil prices; (2) the issues affecting who would get SPR oil under this plan; and (3) how the plan compares with alternative sales mechanisms. GAO found that the plan's market approach would probably limit oil price increases in a severe supply disruption and allow broad participation in the sale. However, there were potential problems identified with oil distribution under the plan. DOE, in taking a market approach to the distribution, plans to award SPR sales contracts to the highest bidders who would be considered eligible buyers. This would allow any foreign country to buy the oil and does not limit the amount that a single buyer could purchase at a given sale. GAO also examined alternative sales methods of interest to Congress, including: (1) the continuous sale of options to buy SPR oil in advance of an oil emergency; and (2) allocation of SPR oil at government-set prices. Most industry representatives opposed the sale of SPR options because of their concerns about the length of time during which options could be exercised and who should be eligible to buy the options. GAO found that uncompetitive allocation of SPR oil would entail administrative difficulties that would undermine its intended benefits since it would be difficult to develop criteria for fair distribution.
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 80
Book Description
Pursuant to a congressional request, GAO reviewed the Department of Energy's (DOE) plan for selling oil from the Strategic Petroleum Reserve (SPR) to analyze: (1) the plan's potential effects on world oil prices; (2) the issues affecting who would get SPR oil under this plan; and (3) how the plan compares with alternative sales mechanisms. GAO found that the plan's market approach would probably limit oil price increases in a severe supply disruption and allow broad participation in the sale. However, there were potential problems identified with oil distribution under the plan. DOE, in taking a market approach to the distribution, plans to award SPR sales contracts to the highest bidders who would be considered eligible buyers. This would allow any foreign country to buy the oil and does not limit the amount that a single buyer could purchase at a given sale. GAO also examined alternative sales methods of interest to Congress, including: (1) the continuous sale of options to buy SPR oil in advance of an oil emergency; and (2) allocation of SPR oil at government-set prices. Most industry representatives opposed the sale of SPR options because of their concerns about the length of time during which options could be exercised and who should be eligible to buy the options. GAO found that uncompetitive allocation of SPR oil would entail administrative difficulties that would undermine its intended benefits since it would be difficult to develop criteria for fair distribution.
Naval Petroleum Reserve No. 1
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 48
Book Description
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 48
Book Description
The Strategic Petroleum Reserve
Author: David L. Weimer
Publisher: Praeger
ISBN:
Category : Business & Economics
Languages : en
Pages : 256
Book Description
Publisher: Praeger
ISBN:
Category : Business & Economics
Languages : en
Pages : 256
Book Description
Analysis of Oil Withdrawal and Distribution Tests for the Strategic Petroleum Reserve
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 36
Book Description
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 36
Book Description
Strategic Petroleum Reserve and the Department of Energy's Baseline Assessment
Author: United States. Congress. Senate. Committee on Energy and Natural Resources. Subcommittee on Energy and Mineral Resources
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 96
Book Description
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 96
Book Description
An Evaluation of the National Energy Plan
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 192
Book Description
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 192
Book Description
An Evaluation of the Strategic Petroleum Reserve
Author: United States. Congressional Budget Office
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 56
Book Description
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 56
Book Description
Strategic Petroleum Reserves
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 44
Book Description
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 44
Book Description
Strategic Petroleum Reserve Annual Report
Author:
Publisher:
ISBN:
Category : Petroleum reserves
Languages : en
Pages : 290
Book Description
Publisher:
ISBN:
Category : Petroleum reserves
Languages : en
Pages : 290
Book Description
Strategic Petroleum Reserve
Author: United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Energy and Power
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 260
Book Description
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 260
Book Description