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Why expand the SPR?
02/05/2007
A plan to double capacity of the Strategic Petroleum Reserve typifies the cascading misjudgment driving US energy policy. In his state-of-the-union address Jan. 23, President George W. Bush announced plans to raise capacity of the SPR to 1.5 billion bbl by 2027. In the same speech, he proposed that the mandate for renewable fuel sold with gasoline, now set to grow to 7.5 billion gal/year by 2012, be expanded to 35 billion gal/year by 2027. In conjunction with an unspecified toughening of fuel-economy standards for new vehicles, this is supposed to cut US consumption of gasoline over the next 10 years by 20% from projected levels.The administration’s rationale for expanding the SPR i...
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