Wednesday, June 08, 2005

Topping Off America's Tank

For the first time in nearly 30 years, America's "Strategic Petroleum Reserve" (SPR) is nearly full. The SPR is a 700 million barrel emergency foil supply stored in underground salt caves off the coast of Lousianna and Texas. It was dreamed up as a cushion against oil supply interruptions after the oil embargo of the 1970s.

In the past, it's been tapped to lower gasoline prices. The Energy Department promises prices will drop when they finish topping off this giant tank. It'll mean an extra 75-thousand barrels a day on the world oil market. Not much of a drop in the bucket. (KACT-TV)

No comments: