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Author : United States. Congress. House. Committee on Commerce. Subcommittee on Energy and Power
Publisher : Unknown
Page : 112 pages
File Size : 51,6 Mb
Release : 1996
Category : Political Science
ISBN : STANFORD:36105062086025
Author : Albert L. Strait
Publisher : Unknown
Page : 0 pages
File Size : 40,9 Mb
Release : 2010
Category : Energy policy
ISBN : 1606922904
The Strategic Petroleum Reserve (SPR) was created in 1975 to help protect the U.S. economy from oil supply disruptions and it currently holds about 700 million barrels of crude oil. The Energy Policy Act of 2005 required the Department of Energy to expand the Strategic Petroleum Reserve's maximum storage capacity to 1 billion barrels of crude oil. As the Department of Energy (DOE) begins to expand the SPR, past experiences can help inform future efforts to fill the reserve in the most cost-effective manner. Thus, this book will focus on the factors that experts recommend be considered when filling and using the SPR, to what extent the SPR can protect the U.S. economy from damage during oil supply disruptions and under what circumstances would an SPR larger than its current size be warranted. As part of this book, GAO developed oil supply disruption scenarios, used models to estimate potential economic harm, and convened 13 experts in conjunction with the National Academy of Sciences. This is an edited, excerpted and augmented edition of a GAO and U.S. Department of Energy publication.
Author : United States Government Accountability Office
Publisher : Createspace Independent Publishing Platform
Page : 72 pages
File Size : 40,8 Mb
Release : 2017-09-13
Category : Electronic
ISBN : 1976366984
Congress authorized the Strategic Petroleum Reserve (SPR), operated by the Department of Energy (DOE), to release oil to the market during supply disruptions and protect the U.S. economy from damage. The reserve can store up to 727 million barrels of crude oil, and currently contains enough oil to offset 59 days of U.S. oil imports. GAO answered the following questions: (1) What factors do experts recommend be considered when filling and using the SPR? (2) To what extent can the SPR protect the U.S. economy from damage during oil supply disruptions? (3) Under what circumstances would an SPR larger than its current size be warranted? As part of this study, GAO developed oil supply disruption scenarios, used models to estimate potential economic harm, and convened 13 experts in conjunction with the National Academy of Sciences.
Author : United States. General Accounting Office
Publisher : Unknown
Page : 74 pages
File Size : 51,5 Mb
Release : 1980
Category : Governmental investigations
ISBN : STANFORD:36105126816946
Author : Frank Rusco
Publisher : DIANE Publishing
Page : 16 pages
File Size : 55,8 Mb
Release : 2010-02
Category : Technology & Engineering
ISBN : 9781437917703
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.
Author : United States. Government Accountability Office
Publisher : Unknown
Page : 66 pages
File Size : 41,5 Mb
Release : 2006
Category : Energy policy
ISBN : LCCN:2006475728
Author : United States. Government Accountability Office
Publisher : DIANE Publishing
Page : 72 pages
File Size : 54,8 Mb
Release : 2006
Category : Energy policy
ISBN : 1422311457
Author : Frank Rusco
Publisher : DIANE Publishing
Page : 15 pages
File Size : 44,9 Mb
Release : 2008-07
Category : Technology & Engineering
ISBN : 9781437904390
The Strategic Petroleum Reserve (SPR) helps protect the U.S. economy from oil supply disruptions and currently holds 700 million barrels of crude oil. The Energy Policy Act directed the DoE to increase the SPR storage capacity from 727 million barrels to 1 million barrels. Since 1999, oil for the SPR has been obtained through the royalty-in-kind program, whereby the gov¿t. receives oil instead of cash for payment of royalties on leases of fed. property. The Minerals Mgmt. Service collects the royalty oil and transfers it to DoE, which then trades it for oil for the SPR. This testimony focuses on: (1) factors for DoE to consider when filling the SPR; and (2) the cost-effectiveness of using oil received through the royalty-in-kind program to fill the SPR.
Author : Shantayanan Devarajan,Harvard Energy Security Program,R. Glenn Hubbard,John F. Kennedy School of Government. Energy and Environmental Policy Center
Publisher : Unknown
Page : 34 pages
File Size : 42,8 Mb
Release : 1982
Category : Petroleum industry and trade
ISBN : OCLC:503179085
Author : Anonim
Publisher : Unknown
Page : 12 pages
File Size : 55,6 Mb
Release : 2009
Category : Petroleum products reserves
ISBN : OCLC:423806584
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 Department of Energy (DOE) to increase the SPR's capacity from 727 million barrels to 1 billion barrels, which it plans to do by 2018. With the possibility of including refined products as part of the expansion of the SPR, 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. To address these issues, GAO relied on its 2006 report on the SPR (GAO-06-872), 2007 report on the globalization of petroleum products (GAO-08-14), and two 2008 testimonies on the cost-effectiveness of filling the SPR (GAO-08-512T and GAO-08-726T). GAO also reviewed prior DOE and International Energy Agency studies on refined product reserves. Since the SPR, the largest emergency crude oil reserve in the world, was created in 1975 a number of arguments have been made for and against including refined petroleum products. Some of the arguments for including refined products in the SPR are: (1) the United States' increased reliance on imports and resulting exposure to supply disruptions or unexpected increases in demand elsewhere in the world, (2) possible reduced refinery capacity during weather related supply disruptions, (3) time needed for petroleum product imports to reach all regions of the United States in case of an emergency, and (4) port capacity bottlenecks in the United States, which limit the amount of petroleum products that can be imported quickly during emergencies. For example, the damage caused by Hurricane Katrina demonstrated that the concentration of refineries on the Gulf Coast and resulting damage to pipelines left the United States to rely on imports of refined product from Europe. Consequently, regions experienced a shortage of gasoline and prices rose. Conversely, some of the arguments against including refined products in the SPR are: (1) the surplus of refined products in Europe, (2) the high storage costs of refined products, (3) the use of a variety of different type of blends of refined products--"boutique" fuels--in the United States, and (4) policy alternatives that may diminish reliance on oil. For example, Europe has a surplus of gasoline products because of a shift to diesel engines, which experts say will continue for the foreseeable future. Europe's surplus of gasoline is available to the United States in emergencies and provided deliveries following Hurricanes Katrina and Rita in 2005. The following three lessons learned from the management of the existing SPR may have some applicability in dealing with refined products. (1) Select a cost-effective mix of products. In 2006, GAO recommended that DOE include at least 10 percent heavy crude oil in the SPR. If DOE bought 100 million barrels of heavy crude oil during its expansion of the SPR it could save over $1 billion in nominal terms, assuming a price differential of $12 between the price of light and heavy crude, the average differential from 2003 through 2007. Similarly, if directed to include refined products as part of the SPR, DOE will need to determine the most cost-effective mix of products. (2) Consider using a dollar-cost-averaging acquisition approach. Also in 2006, GAO recommended that DOE consider acquiring a steady dollar value--rather than a steady volume--of oil over time when filling the SPR. This would allow DOE to acquire more oil when prices are low and less when prices are high. GAO expects that a dollar-cost-averaging acquisition method would also provide benefits when acquiring refined products. (3) Maximize cost-effective storage options. According to DOE, below ground salt formations offer the lowest cost approach for storing crude oil for long periods of time--$3.50 per barrel in capital cost versus $15 to $18 per barrel for above ground storage tanks. Similarly, DOE will need to explore the most cost-effective storage options for refined products.
Author : Bruce A. Beaubouef
Publisher : Texas A&M University Press
Page : 351 pages
File Size : 52,7 Mb
Release : 2007-08-15
Category : History
ISBN : 9781585446001
In 1973, the United States and other western countries were shocked by the Arab oil embargo. Lines formed at gasoline pumps; fuel stations ran out of supply; prices skyrocketed; and the nation realized its vulnerability to decisions made by leaders of countries half a world away. In response, the U.S. Strategic Petroleum Reserve (SPR), which was signed into law by President Gerald Ford in 1975, has become the nation’s primary tool of energy policy. Following its first major use during the Persian Gulf War of 1991, officials and policy makers at the highest levels increasingly turned to the SPR to stave off shortages and mitigate rising energy prices. Author and historian Bruce A. Beaubouef examines, for the first time, the interactions that have shaped the development of the SPR. He argues that the SPR has survived because it is a passive regulatory tool that serves to protect energy consumers and petroleum consumption and does not compete with the American oil industry. Indeed, by the late twentieth century, as American import dependency reached new heights, refiners and transporters increasingly relied upon the SPR as a ready resource to help maintain feedstock when supplies were tight or disrupted. In a time of continued vulnerability, this definitive work will be of interest to those concerned with the history, economy, and politics of the oil and gas industry, as well as to historians and practitioners of oil and energy policy.
Author : Josh T Wakefield
Publisher : Independently Published
Page : 0 pages
File Size : 54,6 Mb
Release : 2024-04-08
Category : Business & Economics
ISBN : 9798322331988
Book Description: In a world of ever-shifting geopolitical landscapes and mounting environmental concerns, securing our energy future has become paramount. "Fueling the Future: Securing Energy in an Uncertain World" takes you on a journey into the heart of one of the most crucial components of global energy security: the Strategic Petroleum Reserve (SPR). Dive deep into the strategic mechanisms that underpin the SPR, from its historical roots to its modern-day significance. Uncover the pivotal role it plays in stabilizing energy markets, mitigating supply disruptions, and safeguarding national interests. Through this comprehensive exploration, readers gain a nuanced understanding of: The Evolution of Energy Security: Trace the historical origins of the SPR and its evolution in response to changing geopolitical dynamics and energy landscapes. Economic Stability Amidst Uncertainty: Learn how the SPR acts as a bulwark against price volatility, ensuring economic stability in times of crisis. Global Implications: Explore the geopolitical ramifications of strategic reserves management, from diplomatic negotiations to international alliances. Sustainable Solutions for Tomorrow: Discover how the SPR navigates the transition towards renewable energy sources and adapts to a changing climate landscape. By delving into these topics, readers arm themselves with the knowledge to navigate the complexities of energy security and sustainability in the 21st century. Whether you're a policymaker, energy industry professional, or concerned citizen, "Fueling the Future" equips you with the insights needed to shape a more secure and sustainable energy future for generations to come. Embark on a journey that transcends borders, empowers decision-makers, and inspires change. The future of energy security begins here.
Author : United States. Congress. House. Committee on Commerce. Subcommittee on Energy and Power
Publisher : Unknown
Page : 108 pages
File Size : 41,7 Mb
Release : 1996
Category : Political Science
ISBN : PSU:000026211060
Author : David L. Weimer
Publisher : Praeger
Page : 256 pages
File Size : 54,9 Mb
Release : 1982-11-19
Category : Business & Economics
ISBN : STANFORD:36105037422354
Author : United States Accounting Office (GAO)
Publisher : Createspace Independent Publishing Platform
Page : 38 pages
File Size : 41,5 Mb
Release : 2018-06-12
Category : Electronic
ISBN : 1721028455
U.S. Strategic Petroleum Reserve at a Turning Point--Management of Cost, Oil Supply Problems, and Future Site Development