The Strategic Petroleum Reserve: History, Perspectives, and Issues
"Congress authorized the Strategic Petroleum Reserve (SPR) in the Energy
Policy and Conservation Act (EPCA, P.L. 94-163) to help prevent a repetition of the
economic dislocation caused by the 1973-1974 Arab oil embargo. The program is
managed by the Department of Energy (DOE). The capacity of the SPR is 727
million barrels, and it currently holds around 704 million barrels of crude oil. In
addition, a Northeast Heating Oil Reserve (NHOR) holds 2 million barrels of heating
oil in above-ground storage. At issue in recent years has been whether SPR capacity
should be expanded and whether the reserve should continue to be filled."