The Strategic Petroleum Reserve (SPR) helps protec

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Strategic Petroleum Reserve: Improving the Cost-Effectiveness of Filling the Reserve: Congressional Testimony

The Strategic Petroleum Reserve (SPR) helps protec

Our Price: $15.00

By Frank Rusco (au)
Year: 2008
Pages: 11
Binding Paperback

Product Code: 1437904394

Description

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.

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