Energy Security:
Evaluating U.S. Vulnerability to Oil Supply Disruptions and Options for Mitigating Their Effects
RCED-97-6: Published: Dec 12, 1996. Publicly Released: Dec 12, 1996.
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Pursuant to a congressional request, GAO reviewed the effectiveness of the Administration's 1995 National Energy Policy Plan (NEPP) in reducing the vulnerability of the U.S. economy to oil supply disruptions and price shocks, focusing on: (1) the economic benefits of importing oil compared with the potential economic costs of vulnerability to oil shocks; (2) the extent to which the U.S. economy's vulnerability to oil shocks will likely change over time given the programs and policies contained in the Administration's 1995 NEPP and other relevant factors; and (3) options for reducing the economy's vulnerability to oil shocks.
GAO found that: (1) the U.S. economy realizes hundreds of billions of dollars in benefits annually by using relatively low cost imported oil rather than relying on more expensive domestic sources of energy; (2) by comparison, oil shocks impose large but infrequent economic costs that, when annualized, are estimated to cost the U.S. economy tens of billions of dollars per year; (3) the economic costs of oil price shocks depend largely upon the rise in the price of oil coupled with the nation's level of oil consumption, rather than the level of imports; (4) as long as market forces prevail, world and domestic oil prices will be the same and will rise and fall with changes in world oil market conditions; (5) under these conditions, an incremental decrease in oil imports would reduce the benefits of such imports without substantially lowering the costs of oil price shocks; (6) oil supply disruptions impose significant economic costs, and reliance on imported oil imposes military and other costs that are not easily measured; (7) while adopting the NEPP's initiatives may keep the economy's vulnerability to oil supply disruptions below what it otherwise would be, the Energy Information Administration's forecasts indicate that by most measures the economy will not likely be significantly less vulnerable through 2015, primarily because the demand for oil is projected to increase; (8) only over a longer period do energy analysts anticipate significant improvement, and that depends on technological advances in such areas as energy efficiency and alternative fuels; (9) while their views varied, almost all of the experts GAO consulted about options for reducing the economy's vulnerability to oil supply disruptions said that, in the short run, the United States should rely on rapid and large releases of oil from the Strategic Petroleum Reserve to blunt price increases at the onset of an oil supply disruption; and (10) in the long run, the experts generally favored research to develop cost-competitive alternatives to petroleum.
Dec 10, 2020
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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.
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