March 2000

Trends and Resources

HP In Brief: HPIn Brief

'Leave SPR alone,' urges Kansas Governor Bill Graves. He recently warned U.S. federal lawmakers not to sell oil from the Strategic Petroleum Reserve (SPR) to moderate the rise in heating oil prices. ..

Weirauch, Wendy, Hydrocarbon Processing Staff

'Leave SPR alone,' urges Kansas Governor Bill Graves. He recently warned U.S. federal lawmakers not to sell oil from the Strategic Petroleum Reserve (SPR) to moderate the rise in heating oil prices. The SPR is clearly intended "to serve as an emergency source of oil for the U.S.," says Graves, chairman of the Interstate Oil and Gas Compact Commission. "The SPR was not designed as a tool for market manipulation." He also noted that any drawdown would further damage the U.S. oil and natural gas industry, which was hit hard by low oil prices last year. Under the Energy Policy and Conservation Act of 1975, only the President can make use of the SPR – and only for three reasons: supply sh

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