Strategic Petroleum Reserve (SPR)
Time to Draw Down the Strategic Petroleum Reserve? – Part 2
It has been argued that there is too much crude oil in the Strategic Petroleum Reserve and that it should be drawn down. Arguments have been made that one should “tie the amount of insurance you carry to the size of the need.” By that argument, because domestic production is up and “hit record levels…
Read MoreTime To Draw Down The Strategic Petroleum Reserve?
What is the Strategic Petroleum Reserve? The Strategic Petroleum Reserve consists of a number of large underground caverns created in naturally occurring salt diapirs (domes) along the Gulf Coast of the United States. The caverns were created by drilling wells into the salt domes, dissolving the salt with water, pumping the salt water solution to…
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