Status of U.S. Participation in the International Energy Agency's Emergency Sharing System
NSIAD-85-99
Published: Jun 13, 1985. Publicly Released: Jul 02, 1985.
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Highlights
Pursuant to a congressional request, GAO reviewed the International Energy Agency's (IEA) Emergency Sharing System and the effectiveness of U.S. participation in that system. Under the system, IEA member countries agree to: (1) establish demand restraint measures for reducing their oil demand at least 7 percent during a serious supply disruption; (2) maintain emergency oil reserves equal to 90 days of net imports; and (3) in a supply disruption equal to or exceeding 7 percent, share oil supplies under an IEA allocation system.
Recommendations
Matter for Congressional Consideration
| Matter | Status | Comments |
|---|---|---|
| Since the authorities contained in the Energy Policy and Conservation Act are necessary for effective U.S. participation in IEA and GAO did not find any circumstances that would invalidate the original and continuing justification for U.S. participation in IEA, Congress should extend these authorities. |
Closed – Implemented
|
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information. |
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Topics
Emergency preparednessForeign trade agreementsFuel suppliesOil resourcesPetroleum storageProperty and supply managementStrategic materialsStocksOil supplyCrude oil