Status of Strategic Petroleum Reserve Activities--February 1981

EMD-81-49: Published: Feb 24, 1981. Publicly Released: Mar 24, 1981.

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The Energy Security Act requires the President to resume filling the Strategic Petroleum Reserve (SPR) at an average rate of at least 100,000 barrels per day for fiscal year 1981 and succeeding years. As of December 11, 1980, the Administration had completed its fiscal year 1981 efforts.

For the first time since the passage of the Energy Security Act, the Government acted to increase the fill rate above the minimum of 100,000 barrels per day. The Administration cannot exceed a fill rate of 214,000 barrels per day during fiscal year 1981 without additional funds. Subsequent years also require funds. The Department of Energy will not have enough capacity under its existing expansion plans to maintain a fill rate of 300,000 barrels per day beyond July 1982. Any early effort to fill the reserve at the rate of 300,000 barrels per day will require complementary efforts to insure alternative storage.

Recommendations for Executive Action

  1. Status: Closed

    Comments: Please call 202/512-6100 for additional information.

    Recommendation: The Secretary of Energy should set specific goals for SPR fill during 1981 and succeeding fiscal years consistent with congressional intent.

    Agency Affected: Department of Energy

  2. Status: Closed

    Comments: Please call 202/512-6100 for additional information.

    Recommendation: The Secretary of Energy should insure that adequate storage capacity is available on a timely basis to meet the needs of an accelerated SPR fill effort.

    Agency Affected: Department of Energy

  3. Status: Closed

    Comments: Please call 202/512-6100 for additional information.

    Recommendation: The Secretary of Energy should report to Congress on (1) the costs, advantages, and disadvantages of an accelerated construction program and other storage options; and (2) the feasibility and appropriateness of SPR financing mechanisms which may be used to reduce financing through appropriated funds.

    Agency Affected: Department of Energy

 

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