Review of the Strategic Petroleum Reserve Plan. Hearing before the Committee on Interior and Insular Affairs, United States Senate, Ninety-Fifth Congress, first session on FEA's Strategic Petroleum Reserve Plan submitted to the Congress for review pursuant to Public Law 94-163, February 4, 1977
This hearing was convened for the purpose of considering the Strategic Petroleum Reserve plan prepared by the Federal Energy Administration. Since the Arab oil embargo of 1973 to 1974, our country's dependence on foreign imports has only gotten worse, with imports now providing 40% of domestic demand for oil. In an effort to protect against the economic dislocation of any future interruption of petroleum supply, Congress provided, in the Energy Policy and Conservation Act, Public Law 94-163, for the creation of a reserve storage of up to 1 billion barrels of petroleum products. The act directed that the FEA transmit to Congress, a detailed plan for designing, constructing, and filling the storage and related facilities of the Strategic Petroleum Reserve. The issues of whether only crude oil or both crude oil and petroleum products should be stored; where such storage is to be had; and how much it will cost and who will pay will all have tremendous impact not only on our Nation as a whole, but also on each region of our country. FEA officials were present to explain their plan in detail. Mr. John H. Lichtblau of the Petroleum Industry Research Foundation presented an analysis of that plan. In addition, the committee received testimony on the plan from Senator Kennedy and a panel of interested citizens of New England as well as from Senator Matsunaga and an official of the State of Hawaii. Mr. Jesse Calhoon of the National Marine Engineers' Beneficial Association also was heard. (MCW)
- OSTI ID:
- 5248156
- Resource Relation:
- Related Information: Publication No. 95-10
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
POLICY AND ECONOMY
02 PETROLEUM
ENERGY POLICY AND CONSERVATION ACT
STRATEGIC PETROLEUM RESERVE
PETROLEUM
STORAGE
REVIEWS
CHARGES
ECONOMIC POLICY
HEARINGS
PLANNING
REGIONAL ANALYSIS
RESERVES
US FEA
USA
DOCUMENT TYPES
ENERGY SOURCES
FOSSIL FUELS
FUELS
LAWS
NATIONAL ORGANIZATIONS
NORTH AMERICA
US ORGANIZATIONS
294002* - Energy Planning & Policy- Petroleum
293000 - Energy Planning & Policy- Policy
Legislation
& Regulation
020100 - Petroleum- Reserves- (-1989)
021000 - Petroleum- Legislation & Regulations