Naval Petroleum Reserve No. 1:
Efforts to Sell the Reserve
RCED-88-198: Published: Jul 28, 1988. Publicly Released: Jul 28, 1988.
Additional Materials:
- Full Report:
Contact:
In response to a congressional request, GAO reviewed the proposed sale of the Elk Hills, California, Naval Petroleum Reserve No. 1 (NPR-1), specifically the: (1) chronological events leading to and following sale proposals; (2) proposals to produce and sell NPR-1 oil and gas production for nonmilitary use; and (3) Department of Energy's (DOE) 1987 divestiture report.
GAO found that: (1) Congress must authorize NPR sales, and it has not delegated that authority or approved executive branch proposals to sell or otherwise change the status of NPR; (2) after the Arab oil embargo, Congress passed legislation that allowed the military to acquire some or all of the oil, as needed, for defense purposes; (3) in 1987, Congress authorized DOE up to $500,000 to study a NPR-1 sale; and (4) DOE proposed to use the receipts from the sale of NPR-1 to complete filling the Strategic Petroleum Reserve to 750 million barrels of oil and to develop and fill a 10-million-barrel defense petroleum inventory. GAO also found that the DOE divestiture report did not adequately justify the sale of NPR-1, since: (1) its conclusions relied heavily on inaccurate data concerning NPR-1 recoverable reserves; (2) it estimated NPR-1 value from industry rather than government perspectives; and (3) it did not consider the potential for leasing NPR-1 as an alternative to either selling or holding the asset.
Dec 10, 2020
-
Uranium Management:
Actions to Mitigate Risks to Domestic Supply Chain Could Be Better Planned and CoordinatedGAO-21-28: Published: Dec 10, 2020. Publicly Released: Dec 10, 2020.
Dec 8, 2020
-
Offshore Wind Energy:
Planned Projects May Lead to Construction of New Vessels in the U.S., but Industry Has Made Few Decisions amid UncertaintiesGAO-21-153: Published: Dec 8, 2020. Publicly Released: Dec 8, 2020.
Nov 19, 2020
-
Nuclear Waste Disposal:
Better Planning Needed to Avoid Potential Disruptions at Waste Isolation Pilot PlantGAO-21-48: Published: Nov 19, 2020. Publicly Released: Nov 19, 2020.
Oct 29, 2020
-
Nuclear Safety:
DOE and the Safety Board Should Collaborate to Develop a Written Agreement to Enhance OversightGAO-21-141: Published: Oct 29, 2020. Publicly Released: Oct 29, 2020.
Oct 15, 2020
-
Nuclear Weapons:
NNSA Plans to Modernize Critical Depleted Uranium Capabilities and Improve Program ManagementGAO-21-16: Published: Oct 15, 2020. Publicly Released: Oct 15, 2020.
Jul 24, 2020
-
Nuclear Weapons:
Action Needed to Address the W80-4 Warhead Program's Schedule ConstraintsGAO-20-409: Published: Jul 24, 2020. Publicly Released: Jul 24, 2020.
Jun 24, 2020
-
National Nuclear Security Administration:
Analyzing Cost Savings Program Could Result in Wider Use and Additional Contractor EfficienciesGAO-20-451: Published: Jun 24, 2020. Publicly Released: Jun 24, 2020.
Jun 9, 2020
-
Nuclear Weapons:
NNSA Needs to Incorporate Additional Management Controls Over Its Microelectronics ActivitiesGAO-20-357: Published: Jun 9, 2020. Publicly Released: Jun 9, 2020.
May 13, 2020
-
Environmental Liabilities:
DOE Needs to Better Plan for Post-Cleanup Challenges Facing SitesGAO-20-373: Published: May 13, 2020. Publicly Released: May 13, 2020.
May 12, 2020
-
Hanford Waste Treatment Plant:
DOE Is Pursuing Pretreatment Alternatives, but Its Strategy Is Unclear While Costs Continue to RiseGAO-20-363: Published: May 12, 2020. Publicly Released: May 12, 2020.
Looking for more? Browse all our products here