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U.S. Moves to Create Strategic Petroleum Reserve
The United States plans a strategic petroleum reserve of at least 500 million barrels, costing over $7 billion over seven years. Phase targets begin with 50 million barrels in 18 months and 150, 325, then 500 million by seven years, with possible expansion to one billion. Studies explore salt domes, mines, tanks, and idle tankers as storage options.
MENTIONED IN THIS ARTICLE
Washington
United States
Middle East
U.S
Ford
Strategic Petroleum Reserve
Federal Energy Administration
Congress
Dec
Gulf Coast