Strategic Petroleum Reserve: Issues Regarding the Inclusion of Refined Petroleum Products as Part of the Strategic Petroleum Reserve

Download or read book Strategic Petroleum Reserve: Issues Regarding the Inclusion of Refined Petroleum Products as Part of the Strategic Petroleum Reserve written by Frank Rusco and published by DIANE Publishing. This book was released on 2010-02 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The possibility of storing refined petroleum products as part of the Strategic Petroleum Reserve (SPR) has been contemplated since the SPR was created in 1975. The SPR, which currently holds about 700 million barrels of crude oil, was created to help insulate the U.S. economy from oil supply disruptions. However, the SPR does not contain refined products such as gasoline, diesel fuel, or jet fuel. The Energy Policy Act of 2005 directed the Dept. of Energy to increase the SPR's capacity from 727 million barrels to 1 billion barrels. This testimony discusses (1) some of the arguments for and against including refined products in the SPR; and (2) lessons learned from the management of the existing crude oil SPR that may be applicable to refined products. Illus.