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Read. Follow. Verify.Senate Hearing on Modernizing the Strategic Petroleum Reserve
Record date · January 1, 2016
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What This Bill Does
The Senate Committee on Energy and Natural Resources held a hearing on October 6, 2015, to discuss the modernization of the and broader U.S. energy security. The session featured testimony from the Secretary of Energy and various energy policy experts regarding the role of the reserve in a changing global oil market.
This hearing examines the future of the U.S. emergency oil stockpile, which affects national energy security policy and the government's ability to respond to global oil supply disruptions.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
U.S. Department of Energy
The agency manages the Strategic Petroleum Reserve and is responsible for implementing any modernization policies.
Energy Industry
Changes to the management or size of the reserve impact oil market stability and national energy infrastructure.
Key Facts
- The hearing was held on October 6, 2015, in the Dirksen Senate Office Building.
- The committee discussed the report 'A Turbulent World: In Defense of the Strategic Petroleum Reserve' authored by Chairman Murkowski in July 2015.
- The hearing addressed concerns regarding OPEC's falling spare capacity and production outages in Iraq and Libya.
- The committee heard testimony from five witnesses, including the Secretary of Energy and four energy policy experts.
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- The hearing included formal opening statements from Chairman Murkowski and Ranking Member Cantwell.
Frequently Asked Questions
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Discoveries
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Focus on SPR Modernization
The hearing marks a specific point in 2015 where the Senate began formally evaluating the modernization of the SPR due to shifting global oil dynamics.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance60How much this matters to a regular citizen
- Controversy20Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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