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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (40228)	6/16/2000 3:21:00 PM
From: Ken98	Read Replies (1) \| Respond to of 42523

Terry, here is a link to some SPR information: fe.doe.gov Of note: <<Given the unpredictable conditions that might characterize an energy supply disruption, there is no preset "trigger" for the use of the SPR. The Energy Policy and Conservation Act (EPCA) stipulates that the SPR can be drawndown when the President determines that it is "required by a severe energy supply interruption or by obligations of the United States" under the International Energy Agency. The Act defines a "severe energy supply interruption" as one which: is, or is likely to be, of significant scope and duration, and of an emergency nature, may cause major adverse impact on national safety or the national economy, and results, or is likely to result, from an interruption in the supply of imported petroleum products, or from sabotage or an act of God. When Congress renewed EPCA in September 1990, it added additional authorities for a limited drawdown (up to 30 million barrels) during certain shortage situations which are expected to be less than "severe" and to use the SPR in response to shortages of domestic oil as well as foreign oil. The legislation also permitted test sales of up to 5 million barrels each. In 1992, the Energy Policy Act added new conditions for an SPR drawdown involving a significant supply reduction coupled with a severe oil price increase likely to cause a major adverse impact on the economy. >> One little blocked canal shutting down one little refinery hardly seems a "significant supply reduction" much less a "severe energy supply disruption" legally sufficient to trigger the President's ability to release SPR oil. Regards, Ken.