Oil resources (41 - 50 of 221 items)
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...
Energy Policy: Developing Strategies for Energy Policies in the 1990s
RCED-90-85: Published: Jun 19, 1990. Publicly Released: Jun 19, 1990.
Pursuant to a congressional request, GAO provided information on energy policy issues, focusing on: (1) energy consumption; (2) increased dependence on imported oil from Persian Gulf sources; (3) uncertainty over the adequacy of future generating capacity; and (4) concern for the potentially adverse environmental effects of energy consumption.GAO found that: (1) since 1983, U.S. energy consumption...
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jointly owned by the federal government and an oil company.GAO found that: (1) the revised data was inaccurate and outdated because the contractor was unable to conduct technical field analyses within the contract period; (2) the cont...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...
Alternative Financing Methods for the Strategic Petroleum Reserve
T-RCED-89-27: Published: Apr 19, 1989. Publicly Released: Apr 19, 1989.
GAO discussed its analysis of financing alternatives for the Strategic Petroleum Reserve (SPR). GAO found that: (1) alternatives dedicating revenues raised through special bonds, taxes, or asset sales to SPR would increase the long-term budget deficit and raise consumer prices, and could impact federal interest costs; (2) the sale of options contracts on stored SPR oil would not generate sufficien...
Strategic Petroleum Reserves: Analysis of Alternative Financing Methods
RCED-89-103: Published: Mar 16, 1989. Publicly Released: Apr 19, 1989.
In response to a congressional request, GAO examined alternatives for acquiring oil for the Strategic Petroleum Reserve (SPR).GAO analyzed three alternative funding proposals and compared them with the current method for financing SPR, and found that: (1) raising revenues through special bonds and taxes, asset sales and receipts would not likely raise enough revenue for the government to purchase...
International Energy Agency: Effectiveness of Members' Oil Stocks and Demand Restraint Measures
NSIAD-89-42: Published: Feb 6, 1989. Publicly Released: Feb 21, 1989.
In response to a congressional request, GAO examined the International Energy Agency (IEA) members': (1) compliance with a requirement to maintain emergency oil reserves equivalent to 90 days of oil imports; and (2) demand-restraint measures during an oil supply disruption and their effectiveness.GAO found that: (1) although most of the member countries technically complied with the 90-day oil sto...
Oil Reserve: Status of Strategic Petroleum Reserve Activities as of September 30, 1988
RCED-89-63FS: Published: Jan 25, 1989. Publicly Released: Feb 2, 1989.
Pursuant to a congressional request, GAO reviewed the Department of Energy's (DOE) progress in developing, operating, and filling the Strategic Petroleum Reserve (SPR) during the 6 months ended September 30, 1988.GAO found that, during that period, DOE: (1) added 9.7 million barrels of crude oil to SPR, increasing the inventory to 554.7 million barrels; (2) disbursed $130 million to the Mexican na...