Oil resources (11 - 20 of 144 items)
Energy Policy: Ranking Options to Improve the Readiness of and Expand the Strategic Petroleum Reserve
RCED-94-259: Published: Aug 18, 1994. Publicly Released: Aug 25, 1994.
GAO reviewed readiness and expansion options for the Strategic Petroleum Reserve (SPR), focusing on: (1) eliminating problems related to the buildup of geothermal heat and gas in some crude oil in SPR; (2) replacing existing facilities and systems to extend the useful life of the reserve; (3) filling SPR to the current 750-million-barrel capacity or expanding and filling SPR to 1 billion barrels;...
Energy Policy: Energy Policy and Conservation Act Reauthorization
T-RCED-94-214: Published: May 25, 1994. Publicly Released: May 25, 1994.
Pursuant to a congressional request, GAO discussed the reauthorization of the Energy Policy and Conservation Act, focusing on the: (1) priority of options to improve the Strategic Petroleum Reserve (SPR); (2) International Energy Agency's (IEA) evolving mission; and (3) options for enhancing revenues from the Naval Petroleum Reserve (NPR). GAO noted that: (1) resolving readiness problems at SPR, s...
Naval Petroleum Reserve: Limited Opportunities Exist to Increase Revenues From Oil Sales in California
RCED-94-126: Published: May 24, 1994. Publicly Released: May 25, 1994.
Pursuant to a congressional request, GAO provided information on Naval Petroleum Reserve (NPR) oil sales, focusing on whether: (1) NPR oil sales to Gulf Coast and mid-continent refiners would increase government revenues and result in higher prices for the remaining NPR oil in California; (2) there are barriers that impede the shipment of NPR oil to refiners; (3) the Department of Energy (DOE) can...
Energy Security and Policy: Analysis of the Pricing of Crude Oil and Petroleum Products
RCED-93-17: Published: Mar 19, 1993. Publicly Released: Mar 29, 1993.
Pursuant to congressional requests, GAO analyzed the pricing of crude oil and petroleum products under normal market conditions and during market shocks.GAO found that: (1) although the Organization of Petroleum Exporting Countries (OPEC) no longer sets prices for crude oil, members' decisions about the supply of oil can still have a significant impact on world oil prices; (2) crude oil is a scarc...
International Energy Agency: Response to the Oil Supply Disruption Caused by the Persian Gulf Crisis
NSIAD-92-93: Published: Jan 21, 1992. Publicly Released: Feb 24, 1992.
Pursuant to a congressional request, GAO reviewed the: (1) International Energy Agency's (IEA) decision to draw down emergency oil stocks in response to the oil supply disruptions that followed Iraq's invasion of Kuwait; (2) U.S. policy on restraining oil demand; (3) U.S. position on domestic sharing of oil supplies in an emergency and oil companies' views on that position; and (4) Department of E...
Long-Term Policies Needed to Address Energy Use and Price Volatility
T-RCED-90-105: Published: Sep 5, 1990. Publicly Released: Sep 5, 1990.
GAO discussed the oil price increases that have taken place since Iraq's invasion of Kuwait. GAO noted that: (1) between August 1 and August 23, 1990, the price for oil futures increased from $21 per barrel to almost $32 per barrel before falling to about $27 on August 27; (2) retail gasoline prices increased about 10 cents a gallon after a major oil spill in March 1989; (3) retail home heating oi...
Alaskan Crude Oil Exports
T-RCED-90-59: Published: Apr 5, 1990. Publicly Released: Apr 5, 1990.
GAO discussed the potential consequences of lifting the existing ban on the export of Alaskan North Slope (ANS) crude oil, focusing on the changes in the Alaskan oil trade that are likely to occur and how those changes could affect the U.S. economy and energy security. GAO noted that: (1) removal of the ban would likely result in the export of ANS crude oil to Pacific Rim countries, since oil tran...
Naval Petroleum Reserve No. 1: Work Still Needed to Improve Accuracy of Reserve Estimates
RCED-90-16: Published: Dec 13, 1989. Publicly Released: Feb 1, 1990.
Pursuant to a congressional request, GAO reviewed a Department of Energy (DOE) contractor's reserve data revisions for Naval Petroleum Reserve Number 1, an oil field jointly owned by the federal government and an oil company.GAO found that: (1) the revised data was inaccurate and outdated because the contractor was unable to conduct technical field analyses within the contract period; (2) the cont...
Energy Security and the World Oil Market
T-RCED-90-12: Published: Nov 8, 1989. Publicly Released: Nov 8, 1989.
GAO discussed the possible economic and other impacts of an oil supply disruption. GAO noted that: (1) a major oil supply disruption would severely impact the entire economy; (2) U.S. oil consumption and dependence on external oil sources have increased since 1985 after a significant decline and are now approaching 1976 levels; (3) world oil production outside of the Organization of Petroleum Expo...
The Strategic Petroleum Reserve Amendments of 1989
T-RCED-89-38: Published: May 4, 1989. Publicly Released: May 4, 1989.
GAO discussed the proposed Strategic Petroleum Reserve (SPR) Amendments of 1989 and alternative, nontraditional methods for financing SPR. GAO noted that: (1) the amendments extended the authorizing legislation for SPR and required the Department of Energy (DOE) to fill SPR at the highest practicable rate and plan for its expansion to 1 billion barrels; (2) as of April 1989, SPR contained over 565...