Oil importing (31 - 40 of 50 items)
Status of Strategic Petroleum Reserve Activities
EMD-81-136: Published: Aug 28, 1981. Publicly Released: Sep 8, 1981.
GAO was requested to review the Administration's activities to implement title VIII of the Energy Security Act. This provision requires the President to fill the Strategic Petroleum Reserve (SPR) at an average rate of at least 100,00 barrels per day for fiscal year (FY) 1981 and each succeeding FY. In the preceding report on the status of SPR fill activities, it was noted that, since passage of th...
New England Can Reduce Its Oil Dependence Through Conservation and Renewable Resource Development
EMD-81-58: Published: Jun 11, 1981. Publicly Released: Jun 11, 1981.
About 80 percent of New England's energy needs are met by oil, primarily foreign imports. As a result, electric rates and heating bills in the area are among the highest in the Nation. The region is vulnerable to oil supply disruptions, and its economy is drained to pay for foreign oil. New England has made significant strides since the oil embargo in its continuing efforts to reduce oil consumpti...
The Potential for Diversifying Oil Imports by Accelerating Worldwide Oil Exploration and Production
ID-81-07: Published: Nov 25, 1980. Publicly Released: Dec 29, 1980.
GAO examined the potential for the United States to diversify its sources of imported oil and the incentives and disincentives for private U.S. oil companies to diversify their individual foreign oil sources in order to reduce dependency upon the Middle East and North Africa. Diversification does not mean abandoning traditional oil sources; it means reducing reliance upon them by supplementing the...
Oil and Natural Gas From Alaska, Canada, and Mexico--Only Limited Help for U.S.
EMD-80-72: Published: Sep 11, 1980. Publicly Released: Sep 11, 1980.
The United States is 75 percent dependent on oil and natural gas for energy, and import dependency will continue through the 1990's. Estimates of domestic production include projections for Alaska, but because time is needed to issue leases, explore and develop drilling sites, build the transportation systems, and bring production on line, the outlook for increased oil and gas supplies from Alaska...
The Department of Energy Could Make Better Use of Existing Data To Monitor the Crude Oil Spot Market
EMD-80-95: Published: Aug 21, 1980. Publicly Released: Aug 21, 1980.
As the world price of crude oil more than doubled in the last 2 years, spot crude oil prices rose even higher. Spot market activity appeared to increase to unprecedented volumes. The significance of the spot market lies not only in its size and price trends, but in its relationship to the far larger contract market. Both oil-exporting and oil-importing countries pointed to the spot market when con...
The United States Exerts Limited Influence on the International Crude Oil Spot Market
EMD-80-98: Published: Aug 21, 1980. Publicly Released: Aug 21, 1980.
In 1979, the world oil market was in disarray. Crude oil prices more than doubled. Unified pricing by the Organization of Petroleum Exporting Countries (OPEC) crumbled as many of these countries first placed surcharges on the price of their oil, and then in a number of cases, imposed whatever prices they believed the market would bear. At the height of this turmoil, the international crude oil spo...
Prospects for a Stronger United States-Mexico Energy Relationship
ID-80-11: Published: May 1, 1980. Publicly Released: May 1, 1980.
Mexico currently has sufficient proven and probable reserves of oil and gas to sustain a production level high enough to make it a major world producer of these fuels within a decade. Moreover, the size of its reserves, 50 billion barrels of oil equivalents, and its potential, ultimately recoverable reserves of 200 billion barrels of oil equivalents, have important implications for a strong future...
Evaluation of Federal Actions in Response to the Iranian Oil Situation
EMD-79-88: Published: Aug 27, 1979. Publicly Released: Sep 24, 1979.
In early March 1979, the United States entered into a commitment with the International Energy Agency (IEA) to lower petroleum consumption by up to 5 percent. This commitment would lessen the Nation's need for imports and thus help stabilize the world oil market, reduce upward pressures on oil prices, and rebuild petroleum stocks drawn during the cutoff. To achieve the IEA commitment, the Iranian...
Iranian Oil Cutoff: Reduced Petroleum Supplies and Inadequate U.S. Government Response
EMD-79-97: Published: Sep 13, 1979. Publicly Released: Sep 13, 1979.
A review was made of how the Iranian oil shortfall affected U.S. oil companies and what the Department of Energy (DOE) did to monitor the situation and deal with its effects. The 19 major U.S. oil companies from which GAO obtained information account for about 75 percent of U.S. refining capacity, oil imports, and gasoline sales. The information included monthly inventory levels, gasoline producti...
The Strategic Petroleum Reserve
110318: Sep 10, 1979
The subject of GAO work on the strategic petroleum reserve program's management of facility cost, oil supply, and future site development is addressed. It appears that the Department of Energy is instituting the proper tools it will need to better manage and control facility costs. These tools, however, can only be as effective as management makes them by diligently monitoring the systems to insur...