Energy Dept. to Resume Filling Oil Reserve in January
The US will once again be filling the nation’s Strategic Petroleum Reserve beginning in January, said a spokeswoman for the Department of Energy.
“The return of SPR emergency exchange oil as a result of damages caused by Hurricanes Gustav and Ike is scheduled to start in January 2009,” said Healy Baumgardner in an email earlier today.
The reserve will be adding 2 million barrels in January, immediately after the Congressional restrictions expire at the end of the year. In May, the US Congress approved legislation which halted shipments to the reserve in order to stem the spiraling prices at the time.
The Strategic Petroleum Reserve currently holds 701.8 million barrels, according to Energy Department data.
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About the Author
Samuel R. Avro is the founding editor of Consumer Energy Report. He lives in the New York area and has a vast interest in, and knowledge of, all the topics of energy as they relate directly to the consumer.... Full Bio
