Experts Cautiously Back Bid To Expand Oil Reserve

Law360, New York (May 8, 2009, 12:00 AM EDT) -- Energy analysts and officials recommended Tuesday that Congress adopt legislation to add 30 million barrels of refined petroleum to the U.S. Strategic Petroleum Reserve, but cautioned that any such addition would require careful cost oversight to keep storage prices from skyrocketing.

The Senate Committee on Energy and Natural Resources heard expert testimony on two pending bills, S. 967 — the Strategic Petroleum Reserve Modernization Act of 2009, sponsored by committee chairman Sen. Jeff Bingaman, D-N.M. — and S. 283 — an amendment to the Energy Policy...
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