Oil resources (1 - 10 of 48 items)
Naval Petroleum Reserve: Limited Opportunities Exist to Increase Revenues From Oil Sales in California
RCED-94-126: Published: May 24, 1994. Publicly Released: May 25, 1994.
Pursuant to a congressional request, GAO provided information on Naval Petroleum Reserve (NPR) oil sales, focusing on whether: (1) NPR oil sales to Gulf Coast and mid-continent refiners would increase government revenues and result in higher prices for the remaining NPR oil in California; (2) there are barriers that impede the shipment of NPR oil to refiners; (3) the Department of Energy (DOE) can...
Energy Policy: Evolution of DOE's Process for Developing a National Energy Strategy
RCED-91-76: Published: Feb 21, 1991. Publicly Released: Mar 20, 1991.
Pursuant to a congressional request, GAO reviewed the Department of Energy's (DOE) process for developing the National Energy Strategy (NES), focusing on the opportunities DOE provided for public comment.GAO found that: (1) DOE began developing NES in July 1989 in response to a presidential directive and legislative requirement that the President biennially prepare and submit to Congress a Nationa...
Oil Reserve: Some Concerns Remain About SPR Drawdown and Distribution
RCED-91-16: Published: Nov 28, 1990. Publicly Released: Jan 18, 1991.
Pursuant to a congressional request, GAO examined the Department of Energy's (DOE) Strategic Petroleum Reserve (SPR) drawdown plans, focusing on: (1) DOE capability for withdrawing and distributing SPR oil; (2) SPR compliance with pipeline safety requirements; and (3) the status of DOE actions to correct problems previously identified by GAO.GAO found that: (1) DOE estimated that it could withdraw...
Long-Term Policies Needed to Address Energy Use and Price Volatility
T-RCED-90-105: Published: Sep 5, 1990. Publicly Released: Sep 5, 1990.
GAO discussed the oil price increases that have taken place since Iraq's invasion of Kuwait. GAO noted that: (1) between August 1 and August 23, 1990, the price for oil futures increased from $21 per barrel to almost $32 per barrel before falling to about $27 on August 27; (2) retail gasoline prices increased about 10 cents a gallon after a major oil spill in March 1989; (3) retail home heating oi...
Alternative Financing Methods for the Strategic Petroleum Reserve
T-RCED-89-27: Published: Apr 19, 1989. Publicly Released: Apr 19, 1989.
GAO discussed its analysis of financing alternatives for the Strategic Petroleum Reserve (SPR). GAO found that: (1) alternatives dedicating revenues raised through special bonds, taxes, or asset sales to SPR would increase the long-term budget deficit and raise consumer prices, and could impact federal interest costs; (2) the sale of options contracts on stored SPR oil would not generate sufficien...
Status of Security Measures to Prevent Oil Flow Disruptions
T-RCED-89-3: Published: Dec 7, 1988. Publicly Released: Dec 7, 1988.
GAO provided unclassified information from a classified report regarding the Department of Energy's (DOE) security program for the Strategic Petroleum Reserve. GAO found that program goals are to: (1) limit site access to the extent feasible; and (2) develop recovery plans that would allow DOE to restore full operational capability within 15 to 30 days after an oil flow disruption. GAO also found...
Oil Reserves: Status of Strategic Petroleum Reserves as of March 31, 1988
RCED-88-175FS: Published: Jun 24, 1988. Publicly Released: Jul 1, 1988.
In response to a congressional request, GAO presented its semiannual review of the Department of Energy's (DOE) progress in developing, operating, and filling the Strategic Petroleum Reserve (SPR).GAO found that: (1) as of March 31, 1988, the SPR inventory totalled 544.9 million barrels of oil; (2) during the previous 6 months, DOE added 11 million barrels of crude oil at an average fill rate of 6...
Renewal of Authorities for U.S. Participation in the International Energy Program
T-NSIAD-88-32: Published: May 17, 1988. Publicly Released: May 17, 1988.
GAO discussed proposed legislation which would enable the United States to continue participating in the International Energy Program of the International Energy Agency (IEA). GAO noted that the IEA emergency sharing system: (1) draws upon emergency oil stocks and allocates available supplies during short-term oil supply disruptions; (2) serves to limit excessive price increases and prevent countr...
International Energy Agency: Plan To Provide Legal Defenses to Participating U.S. Oil Companies
NSIAD-88-89BR: Published: Feb 8, 1988. Publicly Released: Feb 18, 1988.
In response to a congressional request, GAO provided information on the Department of Justice's (DOJ) and the Federal Trade Commission's (FTC) efforts to: (1) expand antitrust and breach-of-contract defenses to protect U.S. oil companies from possible legal suits for participating in the International Energy Agency's (IEA) Emergency Oil Sharing System (ESS); and (2) resolve the problem of foreign...
Oil Reserve: Status of Strategic Petroleum Reserve Activities as of June 30, 1987
RCED-87-194FS: Published: Aug 26, 1987. Publicly Released: Sep 2, 1987.
In response to a congressional request, GAO presented its quarterly review of the Department of Energy's (DOE) progress in developing, operating, and filling the Strategic Petroleum Reserve (SPR).GAO found that: (1) as of June 30, 1987, the SPR inventory totalled 527.2 million barrels of oil; (2) DOE added 7.2 million barrels of crude oil to SPR at an average fill rate of 79,000 barrels per day; (...