GAO warns strategic oil reserves at risk of operational failure

https://www.washingtonexaminer.com/policy/energy-and-environment/4621907/overused-strategic-petroleum-reserve-risk-operational-failure-watchdog-warns/


EXCLUSIVE — The Government Accountability Office has found that the Strategic Petroleum Reserve, the United States’s emergency stockpile of crude oil, is facing significant risks to its ability to operate and meet future energy crises, as inventories have hit their lowest level in 43 years.

The Trump administration is currently overseeing the second-largest drawdown of the SPR to combat surging oil and gasoline prices caused by supply disruptions from the Iran war. Stocks were the lowest they have been since 1983 this week, at just 331.2 million barrels.

Amid the record lows, there are growing concerns as to whether the U.S. will be able to meet future similar global supply shocks. The GAO found that the SPR’s operational capacity faces serious risks if significant changes are not made to upgrade out-of-date infrastructure, address inadequate maintenance of the reserves, and plan for future refills.