PIRINC WARNS AGAINST SPR IMPORTS SETASIDE

Petroleum Industry Research Foundation (Pirinc) warns against proposals to set aside a percentage of U.S. oil imports to fill the Strategic Petroleum Reserve. Since the U.S. budget cannot afford multibillion dollar outlays to fill the SPR, the foundation said, leasing crude from foreign producers for storage in the SPR is the next best option. Sen. Bennett Johnston (D-La.) and Malcolm Wallop (R-Wyo.) have proposed requiring oil importers to give about 9% of their crude and products imports to

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