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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: peter a. pedroli who wrote (39505)	9/24/2000 3:29:23 PM
From: greenspirit	Read Replies (1) \| Respond to of 769667

Article..Strategic Petroleum Reserve Facts... By The Associated Press, Saturday September 23 4:42 PM ET Facts about the Strategic Petroleum Reserve: -Created in 1975 in a series of salt domes on the Texas and Louisiana Gulf Coast in response to the 1973-74 Arab oil embargo. -Designated by Congress to be used in response to serious supply interruptions. Limited release of up to 30 million barrels is allowed to avert a supply shortage threat or mitigate the impact of such a shortage. -Has capacity for as much as 700 million barrels, but currently holds only 571 million barrels, equal to 59 days of oil imports. -Maximum drawdown is 4.1 million barrels a day. -Only used once in response to an emergency, shortly before and during the 1991 Persian Gulf War. A total of 21 million barrels were released. -Had a test sale of 1.1 million in 1985 and two non-emergency sales of 28 million barrels in 1996 and 1997. There have been occasional exchanges of oil to replace different grades of oil. Also small amounts of oil have been ``loaned'' to deal with temporary supply glitches -In September, a release began of 2.8 million barrels of crude oil in exchanged for 2 million barrels of heating oil to be placed in emergency storage in the Northeast. Exchange expected to be completed by end of October. -Last oil purchased in 1999. The government has spent $16 billion on stockpiled oil and $4 million for the facilities - including four underground salt domes containing the oil. -The country uses 18.6 million barrels of oil a day in refined products including gasoline, diesel, heating oil and jet fuel.