Strategic Petroleum Reserve (SPR): Authorization, Operation, and Drawdown Policy

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By Anthony Andrews (au); Robert Pirog (au)
Year: 2012
Pages: 21
Binding Paperback
ISBN 978-1-4578-3113-3

Product Code: 1457831139

Description

Congress authorized the SPR in 1975 to help prevent a repetition of the economic disruption caused by the 1973-74 Arab oil embargo. The Act authorizes the President to draw down the SPR upon a finding that there is a äóìsevere energy supply interruption.äó The meaning of a äóìsevere energy supply interruptionäó has been controversial. Contents of this report: Intro.; Background: Establishing the SPR; International Energy Agency Obligation; SPR Drawdown Authorities; SPR Sites; SPR Releases; Other Policy Considerations: Refining Capacity vs. Crude Supply; Gas Price Increases 2012; The Future of U.S. Imports of Crude Oil; 112th Congress SPR Legislation; Proposals in the 112th Congress. Illustrations. A print on demand report.

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