Energy Policy And Conservation Act Amendments Hearing Before the Subcommittee
Energy Policy And Conservation Act Amendments Hearing Before the Subcommittee
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Currently DOE, which manages the reserve, has developed a capacity to store 750 million barrels of oil in Gulf Coast salt dome caverns and to drawdown the reserve at a design maximum rate of 4. 5 million barrels a day. Since fiscal year 1976, Con- gress has appropriated about $21 billion (or about $33 billion when adjusted for in- flation to 1994 Qollars) for SPR programs and activities. As a result almost 600 mil- lion barrels of crude oil has been stored.
In conducting this analysis we held e...xtensive interviews at DOE headquarters and the SPR program office and reviewed numerous related studies and evaluations. We also used a DOE model that is designed to examine the costs and benefits asso- ciated with a variety of size and draw-down issues. The benefits largely come from replacing oil that is unavailable because of disruptions with SPR oil, thus dampen- ing oil price increases and their resulting impact on the Nation's economy. The model allows us to make different assumptions about the probability and length of disruptions, oil prices and the quantities of oil available in the market place, market price elasticities, the impact of oil price increases on the gross national product, dis- count rates, and other parameters.
What to read after Energy Policy And Conservation Act Amendments Hearing Before the Subcommittee?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress House Committee On Energ to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Currently DOE, which manages the reserve, has developed a capacity to store 750 million barrels of oil in Gulf Coast salt dome caverns and to drawdown the reserve at a design maximum rate of 4. 5 million barrels a day. Since fiscal year 1976, Con- gress has appropriated about $21 billion (or about $33 billion when adjusted for in- flation to 1994 Qollars) for SPR programs and activities. As a result almost 600 mil- lion barrels of crude oil has been stored.
In conducting this analysis we held e...xtensive interviews at DOE headquarters and the SPR program office and reviewed numerous related studies and evaluations. We also used a DOE model that is designed to examine the costs and benefits asso- ciated with a variety of size and draw-down issues. The benefits largely come from replacing oil that is unavailable because of disruptions with SPR oil, thus dampen- ing oil price increases and their resulting impact on the Nation's economy. The model allows us to make different assumptions about the probability and length of disruptions, oil prices and the quantities of oil available in the market place, market price elasticities, the impact of oil price increases on the gross national product, dis- count rates, and other parameters.
What to read after Energy Policy And Conservation Act Amendments Hearing Before the Subcommittee?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress House Committee On Energ to read onlineMoreLess
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