The Strategic Petroleum Reserve and Refined Product Reserves: Authorization and Drawdown Policy

Description:

This report discusses the Strategic Petroleum Reserve (SPR) in the Energy Policy and Consevation Act, which was authorized to help prevent a repetition of the economic dislocation caused by the 1973-1974 Arab oil embargo. The Government Accountability Office recently observed that the proportion of crude oil grades in the SPR has been growing less compatible with the heavier grades of crude oil that U.S. refineries have been upgrading to handle. This finding has raised questions about the SPR's effectiveness during a long-term oil disruption involving heavy oil.

Creator(s):
Location(s): United States
Creation Date: March 11, 2011
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
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Creator (Author):
Andrews, Anthony

Specialist in Energy and Defense Policy

Creator (Author):
Pirog, Robert

Specialist in Energy Economics

Publisher Info:
Place of Publication: Washington, D.C.
Date(s):
  • Creation: March 11, 2011
Coverage:
Place
United States
Description:

This report discusses the Strategic Petroleum Reserve (SPR) in the Energy Policy and Consevation Act, which was authorized to help prevent a repetition of the economic dislocation caused by the 1973-1974 Arab oil embargo. The Government Accountability Office recently observed that the proportion of crude oil grades in the SPR has been growing less compatible with the heavier grades of crude oil that U.S. refineries have been upgrading to handle. This finding has raised questions about the SPR's effectiveness during a long-term oil disruption involving heavy oil.

Physical Description:

15 pages.

Language(s):
Subject(s):
Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
Identifier:
Resource Type: Report
Format: Text