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DOE Should Reassess Size of Oil Reserve in Light of Production: GAO

It is time for the Energy Department (DOE) to reexamine the appropriate size of the nation's emergency oil reserve (Strategic Petroleum Reserve/SPR) in light of the shale oil boom and amid the calls for easing restrictions on US crude oil exports, the Government Accountability Office (GAO) said in a report that reviewed four consultant studies on the economic impacts of lifting the 39-year-old ban on crude oil exports, but the agency stopped short of making its own recommendation. Link to report. The four studies reviewed by GAO were prepared by Resources for the Future, ICF International and EnSys Energy, IHS and NERA Economic Consulting.


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