skip to main content
OSTI.GOV title logo U.S. Department of Energy
Office of Scientific and Technical Information

Title: Strategic Petroleum Reserve: Analysis of size options

Abstract

This report presents the results of the deliberations of the interagency group formed to study the costs and benefits of expanding the size of the SPR. The study concentrated on severe oil supply disruptions involving sharp reductions in world oil production that were 2 to 4 times larger than the largest 1970s interruption. The disruption sizes and estimated probability of occurrence of these scenarios were supplied by the CIA. The most critical part of the CIA's analysis was the assessment of likelihood of these cases occurring. The CIA approached the likelihood problem by combining an examination of past oil supply disruptions with qualitative analysis of important oil market and regional trends. The study group then used statistical techniques and probability distributions to synthesize the historical data with CIA evaluations of as yet unobserved events. The SPR size study assumed direct purchases of SPR oil and did not assume the use of alternative financing mechanisms. Members of the working group with foreign policy and national security responsibilities provided an in-depth review of strategic considerations affecting SPR size. A number of prior studies, some classified, have addressed the strategic importance and insurance value of the SPR to the US and its allies.more » The results of these studies have also been incorporated in the current effort. 10 refs., 5 figs.« less

Publication Date:
Research Org.:
USDOE, Washington, DC (USA)
Sponsoring Org.:
DOE/MA
OSTI Identifier:
7081123
Report Number(s):
DOE/IE-0016
ON: DE90006328
Resource Type:
Technical Report
Country of Publication:
United States
Language:
English
Subject:
02 PETROLEUM; 29 ENERGY PLANNING, POLICY AND ECONOMY; PETROLEUM; SUPPLY DISRUPTION; STRATEGIC PETROLEUM RESERVE; SIZE; CAPACITY; COST BENEFIT ANALYSIS; ENERGY DEMAND; FINANCING; FUEL CONSUMPTION; GLOBAL ASPECTS; IMPORTS; MARKET; DEMAND; ENERGY CONSUMPTION; ENERGY SOURCES; FOSSIL FUELS; FUELS; RESERVES; RESOURCES; 020200* - Petroleum- Reserves, Geology, & Exploration; 020700 - Petroleum- Economics, Industrial, & Business Aspects; 294002 - Energy Planning & Policy- Petroleum

Citation Formats

. Strategic Petroleum Reserve: Analysis of size options. United States: N. p., 1990. Web. doi:10.2172/7081123.
. Strategic Petroleum Reserve: Analysis of size options. United States. https://doi.org/10.2172/7081123
. 1990. "Strategic Petroleum Reserve: Analysis of size options". United States. https://doi.org/10.2172/7081123. https://www.osti.gov/servlets/purl/7081123.
@article{osti_7081123,
title = {Strategic Petroleum Reserve: Analysis of size options},
author = {},
abstractNote = {This report presents the results of the deliberations of the interagency group formed to study the costs and benefits of expanding the size of the SPR. The study concentrated on severe oil supply disruptions involving sharp reductions in world oil production that were 2 to 4 times larger than the largest 1970s interruption. The disruption sizes and estimated probability of occurrence of these scenarios were supplied by the CIA. The most critical part of the CIA's analysis was the assessment of likelihood of these cases occurring. The CIA approached the likelihood problem by combining an examination of past oil supply disruptions with qualitative analysis of important oil market and regional trends. The study group then used statistical techniques and probability distributions to synthesize the historical data with CIA evaluations of as yet unobserved events. The SPR size study assumed direct purchases of SPR oil and did not assume the use of alternative financing mechanisms. Members of the working group with foreign policy and national security responsibilities provided an in-depth review of strategic considerations affecting SPR size. A number of prior studies, some classified, have addressed the strategic importance and insurance value of the SPR to the US and its allies. The results of these studies have also been incorporated in the current effort. 10 refs., 5 figs.},
doi = {10.2172/7081123},
url = {https://www.osti.gov/biblio/7081123}, journal = {},
number = ,
volume = ,
place = {United States},
year = {Thu Feb 01 00:00:00 EST 1990},
month = {Thu Feb 01 00:00:00 EST 1990}
}