Energy shortages (1 - 10 of 31 items)
Strategic Petroleum Reserve: Issues Regarding the Inclusion of Refined Petroleum Products as Part of the Strategic Petroleum Reserve
GAO-09-695T: Published: May 12, 2009. Publicly Released: May 12, 2009.
The possibility of storing refined petroleum products as part of the Strategic Petroleum Reserve (SPR) has been contemplated since the SPR was created in 1975. The SPR, which currently holds about 700 million barrels of crude oil, was created to help insulate the U.S. economy from oil supply disruptions. However, the SPR does not contain refined products such as gasoline, diesel fuel, or jet fuel...
Energy Markets: Refinery Outages Can Impact Petroleum Product Prices, but No Federal Requirements to Report Outages Exist
GAO-09-87: Published: Oct 7, 2008. Publicly Released: Nov 6, 2008.
In recent years, global demand for petroleum products such as gasoline and diesel fuel has grown more quickly than the capacity to produce them, creating a tight market. U.S. refiners have been running near capacity, particularly during peak summer demand. In such conditions, unexpected refinery outages can result in price increases that adversely affect consumers. GAO was asked to evaluate (1) th...
Strategic Petroleum Reserve: Improving the Cost-Effectiveness of Filling the Reserve
GAO-08-726T: Published: Apr 24, 2008. Publicly Released: Apr 24, 2008.
The Strategic Petroleum Reserve (SPR) was created in 1975 to help protect the U.S. economy from oil supply disruptions and currently holds about 700 million barrels of crude oil. The Energy Policy Act of 2005 directed the Department of Energy (DOE) to increase the SPR storage capacity from 727 million barrels to 1 billion barrels, which it plans to accomplish by 2018. Since 1999, oil for the SPR h...
Strategic Petroleum Reserve: Available Oil Can Provide Significant Benefits, but Many Factors Should Influence Future Decisions about Fill, Use, and Expansion
GAO-06-872: Published: Aug 24, 2006. Publicly Released: Oct 3, 2006.
Congress authorized the Strategic Petroleum Reserve (SPR), operated by the Department of Energy (DOE), to release oil to the market during supply disruptions and protect the U.S. economy from damage. The reserve can store up to 727 million barrels of crude oil, and currently contains enough oil to offset 59 days of U.S. oil imports. GAO answered the following questions: (1) What factors do experts...
Oil and Gas Development: Challenges to Agency Decisions and Opportunities for BLM to Standardize Data Collection
GAO-05-124: Published: Nov 30, 2004. Publicly Released: Jan 3, 2005.
U.S. consumption of oil and natural gas increasingly outpaces domestic production, a gap that is expected to grow rapidly over the next 20 years. There has been increasing concern about U.S. reliance on foreign energy sources. One option being considered is to increase domestic production of resources on land under the jurisdiction of the Department of the Interior's Bureau of Land Management (BLM...
California Electricity Market Options for 2001: Military Generation and Private Backup Possibilities
GAO-01-865R: Published: Jun 27, 2001. Publicly Released: Jun 29, 2001.
Since May 2000, California's restructured electricity market has experienced rapidly rising prices and uncertain reliability. In response to disruptions in service, or blackouts, the state has taken steps to increase electricity supplies and to reduce demand through conservation. The California Independent System Operator, the agency in charge of balancing electricity supply with demand, expects h...
Tax Policy: Effects of the Alcohol Fuels Tax Incentives
GGD-97-41: Published: Mar 6, 1997. Publicly Released: Mar 13, 1997.
Pursuant to a congressional request, GAO provided information relating to tax incentives for alcohol fuels, focusing on: (1) whom the incentives benefit and disadvantage economically; (2) what environmental benefits, if any, the incentives have produced; (3) whether the incentives increased the nation's energy independence; and (4) the extent to which the partial exemption from the excise tax for...
Energy Security: Evaluating U.S. Vulnerability to Oil Supply Disruptions and Options for Mitigating Their Effects
RCED-97-6: Published: Dec 12, 1996. Publicly Released: Dec 12, 1996.
Pursuant to a congressional request, GAO reviewed the effectiveness of the Administration's 1995 National Energy Policy Plan (NEPP) in reducing the vulnerability of the U.S. economy to oil supply disruptions and price shocks, focusing on: (1) the economic benefits of importing oil compared with the potential economic costs of vulnerability to oil shocks; (2) the extent to which the U.S. economy's...
Energy Security: Federal Responses to December 1989 Heating Fuel Shortages Were Limited
RCED-91-78: Published: Feb 20, 1991. Publicly Released: Mar 13, 1991.
Pursuant to a congressional request, GAO examined: (1) alleged December 1989 heating fuel shortages; (2) the type of data the Department of Energy's (DOE) Energy Information Administration (EIA) collected and its analyses of heating fuel supply and demand; (3) the impact of federal agencies' delayed processing of Jones Act waivers on heating fuel supplies; and (4) the impact of interruptible natur...
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...