DOE: small distillate stockpile best option

The U.S. Department of Energy has concluded that a federally controlled "regional petroleum product reserve" would make economic sense only under a very narrow set of conditions. The DOE study was commissioned 2 years ago after increases in world oil demand boosted heating oil prices and cut distillate inventories. Several congressmen from New England asked DOE to study the merits of a federal refined products stockpile in the U.S. Northeast. The study concluded the benefits of a government stockpile of heating oil in the Northeast would exceed its costs only if the reserve were relatively small (about 2 million bbl), located in leased terminals, and filled by trading crude ...

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