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Author: Egon Balas Publisher: ISBN: Category : Embargo Languages : en Pages : 23
Book Description
The purpose of the Strategic Petroleum Reserve(SPR) is to diminish U.S. vulnerability to, as well as to offer protection against, possible future oil embargoes. This paper formulates the problem of determining the optimal size of SPR as a parametric bimatrix game between the U.S. and its potential opponent. The strategies of the opponent are embargoes of various intensities and lengths, including of course the no embargo option. The strategies of the U.S. are various ways of using the reserve. The size of the reserve itself is a parameter present in both payoff functions. Solving the game for the relevant reserve, as well as on U.S. drawdown policies in case of an embargo. The crucial element in the game-theoretic approach is that, unlike the traditional cost-benefit analysis, it fully captures the embargo-deterrent effect of an appropriate Strategic Petroleum Reserve. (Author).
Author: Egon Balas Publisher: ISBN: Category : Embargo Languages : en Pages : 23
Book Description
The purpose of the Strategic Petroleum Reserve(SPR) is to diminish U.S. vulnerability to, as well as to offer protection against, possible future oil embargoes. This paper formulates the problem of determining the optimal size of SPR as a parametric bimatrix game between the U.S. and its potential opponent. The strategies of the opponent are embargoes of various intensities and lengths, including of course the no embargo option. The strategies of the U.S. are various ways of using the reserve. The size of the reserve itself is a parameter present in both payoff functions. Solving the game for the relevant reserve, as well as on U.S. drawdown policies in case of an embargo. The crucial element in the game-theoretic approach is that, unlike the traditional cost-benefit analysis, it fully captures the embargo-deterrent effect of an appropriate Strategic Petroleum Reserve. (Author).
Author: United States. General Accounting Office Publisher: ISBN: Category : Petroleum Languages : en Pages : 42
Book Description
The potential value of the strategic petroleum reserve as a national security measure in diminishing U.S. vulnerability to the effects of interruptions in imported petroleum supplies, and in carrying out U.S. international energy commitments, is unquestionable. The law creating the reserve, however, allows considerable discretion in deciding how the reserve can most effectively be established. Determining the optimal size of the reserve is extremely difficult given the many unknowns, assumptions, variables and political factors. No study has shown what the optimal size should be. However, a Department of Energy analysis, athough not designed to determine an optimally sized reserve, has projected a range of supply interruptions that would require a billion-barrel reserve. The functioning of an international program is doubtful during a severe supply interruption because of the following: (1) an inadequate definition of emergency reserve stocks, which results in overstated available reserves; (2) the lack of a binding mechanism to settle price disputes; and (3) insufficient mandatory reallocation procedures. A large portion of projected shortfalls under the most severe interruptions could result from U.S. supply obligations to other nations. An analysis of the reserve programs of the International Energy Agency revealed that the 1 billion barrel U.S. reserve is disproportionately larger than that of any other nation. The absence of mandatory industry involvement in the U.S. program distinguishes it from other emergency reserve programs. Programs which require industry and consumers to share reserve costs warrant consideration by the United States.
Author: Robert Bamberger Publisher: DIANE Publishing ISBN: 1437922643 Category : Technology & Engineering Languages : en Pages : 18
Book Description
Contents: (1) History of the Strategic Petroleum Reserve (SPR): Establishment of the SPR; (2) The Drawdown Authorities: Proposals in the 111th Congress to Amend the Authorities; (3) Acquisition of Crude Oil for the SPR: Resumption of Fill (2009); Royalty-in-Kind Acquisition; (4) When Should the SPR Be Used?: The Debate Over the Years; Use of the SPR in the Persian Gulf War (1990); Hurricanes and Changes in the Market Dynamics (2005-2008); The Call for an SPR Drawdown: Summer 2008; (5) Establishment of a Regional Home Heating Oil Reserve.
Author: Albert L. Strait Publisher: ISBN: 9781606922903 Category : Energy policy Languages : en Pages : 0
Book Description
The Strategic Petroleum Reserve (SPR) was created in 1975 to help protect the U.S. economy from oil supply disruptions and it currently holds about 700 million barrels of crude oil. The Energy Policy Act of 2005 required the Department of Energy to expand the Strategic Petroleum Reserve's maximum storage capacity to 1 billion barrels of crude oil. As the Department of Energy (DOE) begins to expand the SPR, past experiences can help inform future efforts to fill the reserve in the most cost-effective manner. Thus, this book will focus on the factors that experts recommend be considered when filling and using the SPR, to what extent the SPR can protect the U.S. economy from damage during oil supply disruptions and under what circumstances would an SPR larger than its current size be warranted. As part of this book, GAO developed oil supply disruption scenarios, used models to estimate potential economic harm, and convened 13 experts in conjunction with the National Academy of Sciences. This is an edited, excerpted and augmented edition of a GAO and U.S. Department of Energy publication.
Author: Egon Balas
Author: Egon Balas
Author: United States Accounting Office (GAO)
Author: United States. General Accounting Office
Author: Henry S. Rowen
Author: United States. General Accounting Office
Author: Robert Bamberger
Author: 
Author: Albert L. Strait
Author: 
Author: David L. Weimer