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Read. Follow. Verify.Senate Hearing on the Strategic Petroleum Reserve
Record date · January 1, 2021
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What This Bill Does
The Senate Committee on Energy and Natural Resources held a hearing on October 17, 2019, to discuss the current status and national security importance of the Strategic Petroleum Reserve (SPR). Senators and expert witnesses examined the role of the reserve in protecting the U.S. from global energy market volatility and supply disruptions.
The Strategic Petroleum Reserve serves as a national emergency stockpile of oil, and this hearing addressed concerns about using the reserve as a source of federal funding rather than maintaining it for energy security.
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 provides technical expertise on its status.
Energy Consumers
The stability of the reserve impacts national energy security and potential market volatility.
Key Facts
- The hearing took place on October 17, 2019, in the Dirksen Senate Office Building.
- The Committee on Energy and Natural Resources held the hearing to evaluate the status of the Strategic Petroleum Reserve (SPR).
- Chairman Lisa Murkowski emphasized that the SPR should be maintained as a strategic asset rather than used as a source of federal revenue.
- The Committee referenced a 2015 staff report titled 'A Turbulent World: In Defense of the Strategic Petroleum Reserve'.
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- The hearing included testimony from officials at the U.S. Department of Energy, the Congressional Research Service, and the International Energy Agency.
Frequently Asked Questions
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SPR as a Funding Source
The Chairman explicitly warned against using the Strategic Petroleum Reserve as a 'piggy bank' or 'ATM' for other federal initiatives.
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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