1、 https:/crsreports.congress.gov April 5, 2018Reconsidering the Strategic Petroleum ReserveThe Strategic Petroleum Reserve (SPR) was authorized by the Energy Policy and Conservation Act (EPCA) of 1975 (P.L. 94-163). EPCA, passed in the wake of the oil embargo of 1973-1974, set out U.S. energy policy
2、in the areas of production, consumption, and reserve stocks. In 2018, the U.S. position in world markets is significantly different from that of the 1970s and a reconsideration of the size and/or need for the SPR might be warranted. What Is the SPR? EPCA authorized the creation of an up to 1 billion
3、 barrel petroleum reserve. While the primary component of the SPR is crude oil, currently about 660 million barrels, stored in Texas and Louisiana, the reserve also includes the Northeast Home Heating Oil Reserve (2 million barrels of ultralow sulfur heating oil) located in Massachusetts, New Jersey
4、, and Connecticut, as well as the Northeast Gasoline Reserve (1 million barrels of gasoline) located in the New York harbor and Boston areas. The first of these product reserves recognized the importance of heating oil in the New England home heating fuel mix, while the second was established in res
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