Download or read book Strategic Petroleum Reserve written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-05-16 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategic Petroleum Reserve: Options to Improve the Cost-Effectiveness of Filling the Reserve
Download or read book Strategic Petroleum Reserve Improving the Cost Effectiveness of Filling the Reserve written by Frank Rusco and published by DIANE Publishing. This book was released on 2008-07 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Strategic Petroleum Reserve (SPR) helps protect the U.S. economy from oil supply disruptions and currently holds 700 million barrels of crude oil. The Energy Policy Act directed the DoE to increase the SPR storage capacity from 727 million barrels to 1 million barrels. Since 1999, oil for the SPR has been obtained through the royalty-in-kind program, whereby the gov¿t. receives oil instead of cash for payment of royalties on leases of fed. property. The Minerals Mgmt. Service collects the royalty oil and transfers it to DoE, which then trades it for oil for the SPR. This testimony focuses on: (1) factors for DoE to consider when filling the SPR; and (2) the cost-effectiveness of using oil received through the royalty-in-kind program to fill the SPR.
Download or read book Strategic petroleum reserve written by Frank Rusco and published by . This book was released on 2008 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Petroleum Reserve written by U S Government Accountability Offi Gao and published by Independently Published. This book was released on 2019-06-07 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: STRATEGIC PETROLEUM RESERVE: Preliminary Observations on the Emergency Oil Stockpile
Download or read book Strategic Petroleum Reserve written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-06-16 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategic Petroleum Reserve: Options to Improve the Cost-Effectiveness of Filling the Reserve
Download or read book Strategic Petroleum Reserve written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-05-16 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategic Petroleum Reserve: Improving the Cost-Effectiveness of Filling the Reserve
Download or read book Strategic Petroleum Reserve written by Frank Rusco and published by . This book was released on 2008 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Petroleum Reserve Options to Improve the Cost Effectiveness of Filling the Reserve written by Frank Rusco and published by DIANE Publishing. This book was released on 2008-07 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Strategic Petroleum Reserve (SPR) was created in 1975 to help insulate the U.S. economy from oil supply disruptions and currently holds about 700 million barrels of crude oil. The Energy Policy Act of 2005 directed the Dept. of Energy (DoE) to increase the SPR storage capacity from 727 million barrels to 1 billion barrels, which it plans to accomplish by 2018. Since 1999, oil for the SPR has generally been obtained through the royalty-in-kind program, whereby the gov¿t. receives oil instead of cash for payment of royalties on leases of fed. property. This testimony focuses on: (1) factor that DoE should consider when filling the SPR; and (2) the cost-effectiveness of using oil received through the royalty-in-kind program to fill the SPR.
Download or read book Strategic Petroleum Reserve written by Albert L. Strait and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Strategic Petroleum Reserve (SPR) was created in 1975 to help protect the U.S. economy from oil supply disruptions and it currently holds about 700 million barrels of crude oil. The Energy Policy Act of 2005 required the Department of Energy to expand the Strategic Petroleum Reserve's maximum storage capacity to 1 billion barrels of crude oil. As the Department of Energy (DOE) begins to expand the SPR, past experiences can help inform future efforts to fill the reserve in the most cost-effective manner. Thus, this book will focus on the factors that experts recommend be considered when filling and using the SPR, to what extent the SPR can protect the U.S. economy from damage during oil supply disruptions and under what circumstances would an SPR larger than its current size be warranted. As part of this book, GAO developed oil supply disruption scenarios, used models to estimate potential economic harm, and convened 13 experts in conjunction with the National Academy of Sciences. This is an edited, excerpted and augmented edition of a GAO and U.S. Department of Energy publication.
Download or read book Strategic Petroleum Reserve written by and published by . This book was released on 2009 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The possibility of storing refined petroleum products as part of the Strategic Petroleum Reserve (SPR) has been contemplated since the SPR was created in 1975. The SPR, which currently holds about 700 million barrels of crude oil, was created to help insulate the U.S. economy from oil supply disruptions. However, the SPR does not contain refined products such as gasoline, diesel fuel, or jet fuel. The Energy Policy Act of 2005 directed the Department of Energy (DOE) to increase the SPR's capacity from 727 million barrels to 1 billion barrels, which it plans to do by 2018. With the possibility of including refined products as part of the expansion of the SPR, this testimony discusses (1) some of the arguments for and against including refined products in the SPR and (2) lessons learned from the management of the existing crude oil SPR that may be applicable to refined products. To address these issues, GAO relied on its 2006 report on the SPR (GAO-06-872), 2007 report on the globalization of petroleum products (GAO-08-14), and two 2008 testimonies on the cost-effectiveness of filling the SPR (GAO-08-512T and GAO-08-726T). GAO also reviewed prior DOE and International Energy Agency studies on refined product reserves. Since the SPR, the largest emergency crude oil reserve in the world, was created in 1975 a number of arguments have been made for and against including refined petroleum products. Some of the arguments for including refined products in the SPR are: (1) the United States' increased reliance on imports and resulting exposure to supply disruptions or unexpected increases in demand elsewhere in the world, (2) possible reduced refinery capacity during weather related supply disruptions, (3) time needed for petroleum product imports to reach all regions of the United States in case of an emergency, and (4) port capacity bottlenecks in the United States, which limit the amount of petroleum products that can be imported quickly during emergencies. For example, the damage caused by Hurricane Katrina demonstrated that the concentration of refineries on the Gulf Coast and resulting damage to pipelines left the United States to rely on imports of refined product from Europe. Consequently, regions experienced a shortage of gasoline and prices rose. Conversely, some of the arguments against including refined products in the SPR are: (1) the surplus of refined products in Europe, (2) the high storage costs of refined products, (3) the use of a variety of different type of blends of refined products--"boutique" fuels--in the United States, and (4) policy alternatives that may diminish reliance on oil. For example, Europe has a surplus of gasoline products because of a shift to diesel engines, which experts say will continue for the foreseeable future. Europe's surplus of gasoline is available to the United States in emergencies and provided deliveries following Hurricanes Katrina and Rita in 2005. The following three lessons learned from the management of the existing SPR may have some applicability in dealing with refined products. (1) Select a cost-effective mix of products. In 2006, GAO recommended that DOE include at least 10 percent heavy crude oil in the SPR. If DOE bought 100 million barrels of heavy crude oil during its expansion of the SPR it could save over $1 billion in nominal terms, assuming a price differential of $12 between the price of light and heavy crude, the average differential from 2003 through 2007. Similarly, if directed to include refined products as part of the SPR, DOE will need to determine the most cost-effective mix of products. (2) Consider using a dollar-cost-averaging acquisition approach. Also in 2006, GAO recommended that DOE consider acquiring a steady dollar value--rather than a steady volume--of oil over time when filling the SPR. This would allow DOE to acquire more oil when prices are low and less when prices are high. GAO expects that a dollar-cost-averaging acquisition method would also provide benefits when acquiring refined products. (3) Maximize cost-effective storage options. According to DOE, below ground salt formations offer the lowest cost approach for storing crude oil for long periods of time--$3.50 per barrel in capital cost versus $15 to $18 per barrel for above ground storage tanks. Similarly, DOE will need to explore the most cost-effective storage options for refined products.
Download or read book Strategic Petroleum Reserve Issues Regarding the Inclusion of Refined Petroleum Products as Part of the Strategic Petroleum Reserve written by Frank Rusco and published by DIANE Publishing. This book was released on 2010-02 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The possibility of storing refined petroleum products as part of the Strategic Petroleum Reserve (SPR) has been contemplated since the SPR was created in 1975. The SPR, which currently holds about 700 million barrels of crude oil, was created to help insulate the U.S. economy from oil supply disruptions. However, the SPR does not contain refined products such as gasoline, diesel fuel, or jet fuel. The Energy Policy Act of 2005 directed the Dept. of Energy to increase the SPR's capacity from 727 million barrels to 1 billion barrels. This testimony discusses (1) some of the arguments for and against including refined products in the SPR; and (2) lessons learned from the management of the existing crude oil SPR that may be applicable to refined products. Illus.
Download or read book Strategic Petroleum Reserve written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2009 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Petroleum Reserve written by United States. Government Accountability Office and published by DIANE Publishing. This book was released on 2006 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Petroleum Reserve written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Fossil and Synthetic Fuels and published by . This book was released on 1983 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Petroleum Reserve written by Robert Bamberger and published by DIANE Publishing. This book was released on 2010 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: (1) History of the Strategic Petroleum Reserve (SPR): Establishment of the SPR; (2) The Drawdown Authorities: Proposals in the 111th Congress to Amend the Authorities; (3) Acquisition of Crude Oil for the SPR: Resumption of Fill (2009); Royalty-in-Kind Acquisition; (4) When Should the SPR Be Used?: The Debate Over the Years; Use of the SPR in the Persian Gulf War (1990); Hurricanes and Changes in the Market Dynamics (2005-2008); The Call for an SPR Drawdown: Summer 2008; (5) Establishment of a Regional Home Heating Oil Reserve.
Download or read book Financing Options for the Strategic Petroleum Reserve written by Barry J. Holt and published by . This book was released on 1981 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Confirmation of Political Appointees written by Gene L. Dodaro and published by DIANE Publishing. This book was released on 2009-05 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. gov¿t. agencies need to strengthen basic mgmt. capabilities to successfully address current and emerging demands. The incoming admin. will face challenges in implementing its policy and program agendas because of shortcomings in agencies' mgmt. capabilities. Building and developing the institutional capacity to meet these challenges will require appointing the right people to the right positions. This report includes questions for each of 28 major exec. branch depts. and agencies, and one for each of the following 7 major governmentwide mgmt. areas: acquisition mgmt.; collaboration; financial mgmt.; human capital mgmt.; info. and technology mgmt.; results-oriented decision making, and; real property mgmt. and security. Illustrations.
