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strategic petroleum reserve

The Strategic Petroleum Reserve Isn't A National Piggy Bank

July 22, 2011 by Robert Rapier
with 330 views
5

I have covered the reasons for my opposition many times, but the single biggest reason I oppose these sorts of releases is that the fundamental reason for the existence of the Strategic Petroleum Reserve (SPR) is to provide insurance in case of a supply emergency. Politicians who use the reserve in an attempt to influence gas prices so... [read more]

Countries Battle OPEC With Release From Oil Reserves

June 25, 2011 by Robert Rapier
with 173 views
0

While Robert continues his trip to Europe and across the Continental U.S., a significant piece of news has been dominating the headlines. Although we’ve been closely monitoring the release of 60 million barrels of crude on our Energy Ticker page, we also wanted to generate some discussion on the topic, here, on the R-Squared Energy Blog... [read more]

Debunking 5 Myths about Gas Prices

March 30, 2011 by Robert Rapier
with 418 views
1

Gasoline prices have been steadily climbing for several months, and Americans are feeling the pain at the pump. The possible culprits (from greedy oil execs to Mideast turmoil) are as plentiful as the proposed solutions (more offshore drilling, green energy or government reserves). But what is really driving prices up? And what, if anything, can be done about it? Let’s take a moment to fill up on information about our fuel. [read more]

Are Strategic Inventories Adequate to Handle Another Oil Crisis?

February 24, 2011 by Geoffrey Styles
with 652 views
0

In a thought-provoking op-ed, Michael Levi of the Council on Foreign Relations has provided a very timely reminder of the role that the strategic petroleum reserves of the US and other nations would play if the turmoil in North Africa and the Middle East spawned another oil crisis. Neither additional drilling nor an accelerated effort on... [read more]

China strategic oil reserve second phase building starts

September 26, 2009 by Ee Mien Low
with 65 views
0

reuters.com : China has started building [34 million barrels] of oil tanks at Dushanzi in Xinjiang in its far west as part of the second phase of strategic oil reserves. The project will cost 2.65 billion yuan ($390 million) and is due to be finished by July 2011. China finished filling the first phase of its strategic oil reserves... [read more]

An Energy Bill for the Other 92%

July 1, 2009 by Geoffrey Styles
with 82 views
0

Now that the Waxman-Markey Bill, the American Clean Energy and Security Act of 2009--all 1428 pages of it--has been narrowly passed by the House of Representatives, its fate rests in the hands of the US Senate, a body that has spurned a long series of cap & trade bills. The Senate's rules will require a much larger plurality just... [read more]

SPR is Being Tapped

September 3, 2008 by Robert Rapier
with 88 views
1

In response to Hurricane Gustav and the oil production that was taken offline as a result, the federal government announced that 250,000 barrels of oil would be released from the Strategic Petroleum Reserve:Oil prices drop as US opens reserve taps LONDON (AFP) - Oil prices fell on Wednesday as the US government decided to release crude... [read more]

Leveraging the SPR

July 24, 2008 by Geoffrey Styles
with 88 views
3

Election-year politics and prudent energy policy do not mix well. The combination is even worse when the election cycle coincides with a genuine energy crisis, and both parties seek to curry favor through short-sighted proposals aimed at producing votes, rather than BTUs or kilowatt-hours. We saw this earlier in the year with... [read more]

The SPR Debate

May 9, 2008 by Geoffrey Styles
with 39 views
0

The ongoing oil price spike is attracting renewed attention to the government's policy of continuing to fill the Strategic Petroleum Reserve with extremely pricey oil, which I mentioned in Wednesday's posting. Members of Congress and various commentators are calling for a reassessment, as I've done since last October. We're also seeing... [read more]