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Strategic Petroleum Reserve: Observations on the Emergency Stockpile

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Report Type Reports and Testimonies
Report Date July 24, 2018
Release Date July 24, 2018
Report No. GAO-18-675T
Summary:

The Strategic Petroleum Reserve, managed by the Department of Energy, is the nation's stockpile of emergency oil stored in salt caverns along the Gulf Coast.

This testimony covers our May 2018 report, which found that DOE may need less of the reserve's storage space by 2027, after congressionally mandated oil sales.

While DOE planned to explore some options for the excess capacity—i.e., closing sites or leasing them to other countries—we identified other options. For example, DOE could consider leasing storage facilities to private industry.

In the report, we recommended that DOE examine a full range of options, among other things.

 

Photo of an oil rig

Photo of an oil rig

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