Full Title: Depleting the Reserve: The Cumulative Impact of SPR Sales and Other Considerations
Author(s): U.S. Senate Committee on Energy & Natural Resources
Publisher(s): U.S. Senate Committee on Energy & Natural Resources
Publication Date: December 1, 2015
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Description (excerpt):
This report outlines various issues that should be considered in discussions related to the sale of oil from the Strategic Petroleum Reserve (SPR), as envisioned by recent legislation in the 114th Congress. These measures include the DRIVE Act (101 million barrels, reduced to 66 million barrels in the FAST Act), the Bipartisan Budget Act (58 + 40-50 million barrels), and the 21st Century Cures Act (80 million barrels). Taken in the aggregate, these sales of approximately 244 million barrels would “draw down” the emergency stocks, which currently hold 695 million barrels, by 35 percent. Any of the three sales by itself would be the largest in the history of the Reserve.