Book Description

Excerpt from Status and Outlook of the Strategic Petroleum Reserve: Hearing Before the Committee on Energy and Natural Resources, United States Senate, One Hundredth Congress, Second Session, on the Status and Outlook of the Strategic Petroleum Reserve, August 8, 1988 Good afternoon. I wish to commend Chairman Johnston for holding this oversight hearing on the Strategic Petroleum Reserve. As I have said on previous occasions, and continue to believe, the evolution of our the United States' energy emergency preparedness must be a dynamic, not static, process. And the cornerstone of what limited energy emergency preparedness we possess as a nation is the Strategic Petroleum Reserve. When we began this effort 12 years ago, successful completion of the Reserve was considered a monumental task. Then, and in the intervening years, we have been faced with many questions and problems regarding construction of the necessary facilities and acquisition of the oil. Yet, because of the dedication of many individuals, today we have about 551 million barrels of oil stored in the spr, out of the 750 million authorized by the Congress. But existence of the Reserve is not enough we also must have an effective policy for its drawdown and use. And the recent ira exercise to test coordinated stock draw-down demonstrated the benefits to be achieved if drawdown of the Reserve is initiated early in an emergency on a coordinated basis. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.