US Strategic Petroleum Reserve Almost Full Now

Discussion in 'Current Events' started by 5stringJeff, Jun 7, 2005.

  1. 5stringJeff
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    5stringJeff Senior Member

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    Will Market Notice Full Petroleum Reserve?
    By BRAD FOSS, AP Business Writer

    WASHINGTON - The United States' emergency fuel tank — the Strategic Petroleum Reserve — is almost full for the first time since its creation about 30 years ago.

    The milestone is significant because it gives the country a larger energy-security blanket than ever to call upon in the event of a future supply disruption. But the stockpiling of 700 million barrels of oil, which is scheduled for completion by the end of August, also could bring some immediate relief to the global energy market, analysts say.

    When the Energy Department effectively tops off its reserve, which is stored in underground salt caverns located along the Gulf Coast in Texas and Louisiana, roughly 75,000 barrels of oil per day will become available for commercial purposes.

    http://news.yahoo.com/s/ap/20050607...1JYfQ6s0NUE;_ylu=X3oDMTA2amdibDI5BHNlYwNicw--
     

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