Gasoline hoard another bad energy idea for California

05/12/2003
Under direction of the state legislature, the California Energy Commission last month held workshops to consider a government stockpile of gasoline.The aim is to moderate price volatility. A consulting firm recommends the state hoard 2.5 million bbl of summer grade gasoline for release during supply disruptions as a defense against price spikes.The state would store the product outside Los Angeles and San Francisco. It would control 5 million bbl of storage capacity and lease the extra volume to private firms.Companies would withdraw and repay gasoline from the state reserve for a fee determined by electronic auction.California thus seems ready to extend its astonishing record of disastro...
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