Filling the strategic petroleum reserve: oversight; and H. R. 7252 - use of the naval petroleum reserves. Hearings before the Subcommittee on Energy and Power of the Committee on Interstate and Foreign Commerce, House of Representatives, Ninety-Sixth Congress, second session on H. R. 7252, April 25, May 21, and September 15, 1980
Book
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OSTI ID:6554181
The Energy Policy and Conservation Act of 1975 established a strategic petroleum reserve to reduce the economic impacts of future oil supply interruptions. The original reserve plan called for 500 million barrels in storage by the end of 1982, then it was accelerated to 1980. Actual fill of the reserve with crude oil began in July 1977. The purchase of oil was officially terminated at the outset of the Iranian oil shutdown. Oil fill has never been resumed. The reserve now stands at 92 million barrels. The decision to resume filling the reserve continues to be deferred; the current official target for resumption of fill is June of 1981. H.R. 7252 dictates use by the Defense Department of the petroleum products.
- OSTI ID:
- 6554181
- Country of Publication:
- United States
- Language:
- English
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