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{{short description|US strategic petroleum reserve}}
{{About|the United States Strategic Petroleum Reserve|other countries|Global strategic petroleum reserves|unextracted, naturally occurring sources|Oil reserves}}
{{Use mdy dates|date=March 2022}}

[[File:US Strategic Petroleum Reserve.webp|thumb|350px|right|Weekly data points since 1982 <br> {{legend|#8A021F|outline=#770119|[[Barrel (unit)|Barrels of oil]]}}]]
[[File:Commercial Crude Oil Stock Pile.webp|thumb|350px|right|Commercial crude oil stock pile]]

The '''Strategic Petroleum Reserve''' ('''SPR''') is an emergency stockpile of [[petroleum]] maintained by the [[United States Department of Energy]] (DOE). It is the largest publicly known emergency supply in the world; its underground tanks in [[Louisiana]] and [[Texas]] have capacity for {{convert|714|Moilbbl|m3}}.<ref>{{cite web |title = Office of Petroleum Reserves |url = http://energy.gov/fe/services/petroleum-reserves |publisher = United States Department of Energy |access-date = August 27, 2015 }}</ref> The United States started the petroleum reserve in 1975 to mitigate future supply disruptions as part of the international [[Agreement on an International Energy Program]], after oil supplies were interrupted during the [[1973 oil crisis|1973–1974 oil embargo]].<ref>{{Cite web |last=[[International Energy Agency]] |date=July 2020 |title=Oil Security Toolkit |url=https://www.iea.org/reports/oil-security-toolkit |access-date=16 May 2020 |publisher=IEA}}</ref>

The current inventory is displayed on the SPR's website.<ref>{{cite web |title = Strategic Petroleum Reserve Inventory |url = https://www.spr.doe.gov/dir/dir.html |access-date = September 13, 2022 }}</ref> {{As of|2023|07|21|df=US}}, the inventory was {{convert|346.8|Moilbbl|m3|abbr=}}. This equates to about {{#expr: 346.8/20.543 round 0}} days of oil at 2019 daily U.S. consumption levels of {{convert|20.54|Moilbbl/d|m3/d}}<ref>{{cite web |url = http://www.eia.gov/countries/country-data.cfm?fips=US |title = US Total Petroleum Consumption |publisher = Energy Information Administration }}</ref> or {{#expr: 346.8/9.859 round 0}} days of oil at 2019 daily U.S. import levels of {{convert|9.141|Moilbbl/d|m3/d}}.<ref>{{cite web |url = http://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbblpd_a.htm |title = US Total Crude Oil and Products Imports |publisher = Energy Information Administration }}</ref> However, the maximum total withdrawal capability from the SPR is only {{convert|4.4|Moilbbl/d|m3/d}}, so it would take about {{#expr: 346.8/4.4 round 0}} days to use the entire inventory. At recent market prices ($58 a [[Barrel (unit)#Oil barrel|barrel]] as of March 2021),<ref>{{cite web |url = http://www.oil-price.net/ |title = WTI & Brent Crude Oil Prices }}</ref> the SPR holds over $14.6 billion in [[sweet crude oil|sweet crude]] and approximately $18.3 billion in [[sour crude oil|sour crude]] (assuming a $15/barrel discount for sulfur content).  In 2012, the total value of the crude in the SPR was approximately $43.5 billion, while the price paid for the oil was $20.1 billion (an average of $28.42 per barrel).<ref>{{cite web |url = http://www.fossil.energy.gov/programs/reserves/spr/spr-facts.html |title = Strategic Petroleum Reserve—Quick Facts and Frequently Asked Questions |publisher = United States Department of Energy |access-date = February 25, 2012 }}</ref>

Since 2015 Congress has mandated sales of oil from the reserve to fund federal spending. The U.S. Department of Energy has run at least seven sales since 2017, selling 132 million barrels, or about 18.2% of what had been in the reserve.<ref name="Energy Information Agency">{{cite web |publisher = Energy Information Agency |title = U.S. Ending Stocks SPR of Crude Oil and Petroleum Products |url = https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=M_EP00_SAS_NUS_MBBL&f=M }}</ref><ref name=puko-ferek>{{cite news |first1 = Timothy |last1 = Puko |first2 = Katy Stech |last2 = Ferek |url = https://www.wsj.com/articles/why-is-biden-tapping-the-strategic-oil-reserve-and-will-that-lower-gas-prices-11637680300 |title = Why Is Biden Tapping the Strategic Oil Reserve, and Will That Lower Gas Prices? |work = The Wall Street Journal |date = November 23, 2021 }}</ref>

On March 31, 2022, President [[Joe Biden]] announced that his administration would release 1 million barrels of oil per day from the reserve for the next 180 days, selling it at an average price of $96 per barrel. The 2022 release became the largest ever SPR sale and lowered the SPR to its lowest levels in 40 years.<ref name = "ReutersApril">{{cite news |title=US strategic petroleum reserve replenishment slowed by rising oil price |url=https://www.reuters.com/markets/commodities/biden-administration-slowly-puts-oil-back-into-spr-emergency-stash-2024-01-04/ |work=Reuters |date=April 3, 2024}}</ref> After oil prices declined during the second half of the year, in December the administration announced it would begin replenishing the SPR in early 2023, expecting to purchase oil at a lower price than it was sold, a process that would take months or years to complete.<ref name="NYTimes-April2022">{{cite news |last1=Krauss |first1=Clifford |last2=Shear |first2=Michael D. |url=https://www.nytimes.com/2022/03/31/business/energy-environment/biden-oil-strategic-petroleum-reserve.html |title=Biden will tap oil reserve, hoping to push gasoline prices down |work=The New York Times |date=April 1, 2022 |page=A1}}</ref><ref>{{cite news |last1=Egan |first1=Matt |title=Biden begins to refill Strategic Petroleum Reserve, while Keystone Pipeline leak prompts new emergency exchange |url=https://www.cnn.com/2022/12/16/economy/biden-spr-exchange-and-replenish/index.html |publisher=CNN |date=December 16, 2022}}</ref><ref>{{cite news |last1=Uberti |first1=David |title=U.S. Scores $4 Billion Windfall on Oil-Reserve Sales |url=https://www.wsj.com/articles/u-s-scores-4-billion-windfall-on-oil-reserve-sales-11671420244 |work=The Wall Street Journal |date=December 19, 2022}}</ref> The Biden administration continued to release reserves in 2023, selling off 45% of the SPR by September 2023.<ref name = "politico16oct">{{cite news |title=Biden sold off nearly half the U.S. oil reserve. Is it ready for a crisis? |url=https://www.politico.com/news/2023/10/16/biden-oil-reserve-fuels-00121298 |work=Politico |date=October 16, 2022}}</ref> The Department of Energy unveiled plans to purchase oil at a price of $79 per barrel or less, but has since purchased oil at higher prices. As of April 2024, further purchases were cancelled due to rising oil prices.<ref name = "ReutersApril"/><ref>{{cite news |title=Biden administration cancels buyback of 3 million barrels to replenish oil stockpile |url=https://thehill.com/policy/energy-environment/4574215-biden-buyback-oil-stockpile/ |work=The Hill |date=April 4, 2024}}</ref>

According to legislation already in place, the amount of oil in the reserve could fall to 238 million barrels by 2028.<ref name=EIa20180221>{{cite web |url = https://www.eia.gov/todayinenergy/detail.php?id=35032 |title = Recent legislation mandates additional sales of U.S. Strategic Petroleum Reserve crude oil |work = Day in Energy |publisher = Energy Information Agency |date = February 21, 2018 }}</ref> This will be a 67% reduction to the oil in the reservoir since 2010.

== Facilities ==
[[File:Strategic Petroleum Reserves, United States.jpg|thumb|Strategic Petroleum Reserves, United States, 2018.]]
The SPR management office is located in [[Elmwood, Louisiana]], a suburb of [[New Orleans, Louisiana|New Orleans]].

The reserve is stored at four sites on the [[Gulf of Mexico]], each located near a major center of petrochemical refining and processing. Each site contains a number of artificial caverns created in [[salt dome]]s below the surface.

Individual caverns within a site can be up to {{cvt|1000|m}} below the surface. Average dimensions are {{cvt|60|m}} wide and {{cvt|600|m}} deep; capacity ranges from {{convert|6|to|37|Moilbbl|m3}}. Almost $4 billion was spent on the facilities. The decision to store in caverns was made to reduce costs. The Department of Energy claims that it is approximately ten times more cost effective to store oil below the surface, with the added advantages of no leaks and a constant natural churn of the oil due to a temperature gradient in the caverns. The caverns were created by drilling down and then dissolving the salt with water.

===Existing===
* Bryan Mound: [[Freeport, Texas|Freeport]], [[Texas]]. 20 caverns with a storage capacity of {{convert|254|Moilbbl|m3}} with a drawdown capacity of {{convert|1.5|Moilbbl|m3}} per day.<ref>{{cite news |first = Brett |last = Clanton |url = http://www.chron.com/disp/story.mpl/front/5802887.html |title = Go past guards for tour of U.S. oil reserve in Freeport |newspaper = Houston Chronicle |date = May 27, 2008 |access-date = February 25, 2012 }}</ref><ref name="USEnergy">{{cite book |archive-url = https://web.archive.org/web/20081005012233/http://www.fe.doe.gov/programs/reserves/spr/Plan_for_Expansion_to_1_billion_barrels.pdf |archive-date = October 5, 2008 |url = http://www.fe.doe.gov/programs/reserves/spr/Plan_for_Expansion_to_1_billion_barrels.pdf |title = Strategic Petroleum Reserve Plan: Expansion to One Billion Barrels |page = 5 |publisher = United States Department of Energy |date = June 2007 }}</ref>
* Big Hill: [[Winnie, Texas|Winnie]], Texas. Has a capacity of {{convert|160|Moilbbl|m3}} with a drawdown capacity of {{convert|1.1|Moilbbl|m3}} per day.
* West Hackberry: [[Lake Charles, Louisiana|Lake Charles]], Louisiana. Has a capacity of {{convert|227|Moilbbl|m3}} with a drawdown capacity of {{convert|1.3|Moilbbl|m3}} per day.<ref name="USEnergy"/>
* Bayou Choctaw: [[Baton Rouge, Louisiana|Baton Rouge]], Louisiana. Has a capacity of {{convert|76|Moilbbl|m3}} with a maximum drawdown rate of {{convert|550000|oilbbl|m3}} per day.

===Proposed===
* [[Richton, Mississippi|Richton]], Mississippi: This facility, if built as planned, would have had a capacity of {{convert|160|Moilbbl|m3}} with a drawdown capacity of {{convert|1|Moilbbl|m3}} per day.<ref name="USEnergy"/> Former Secretary of Energy [[Samuel Bodman]] announced the creation of this site in February 2007.<ref>{{cite web |url = http://www.fossil.energy.gov/news/techlines/2006/06071-New_SPR_Site_Chosen.html |title = DOE Takes Next Steps to Expand Strategic Petroleum Reserve to One Billion Barrels |publisher = United States Department of Energy |date = December 8, 2006 |access-date = February 25, 2012 }}</ref> As of 2008, this site was facing some opposition.<ref>{{cite web |url = http://uk.reuters.com/article/lifestyle-oil-reserve-mississippi-dc-idUKN0447984320080404 |archive-url = https://web.archive.org/web/20160314091304/http://uk.reuters.com/article/lifestyle-oil-reserve-mississippi-dc-idUKN0447984320080404 |url-status = dead |archive-date = March 14, 2016 |title = Oil reserve site raises ire, Bush policy tested |publisher = [[Reuters]] |access-date = June 21, 2016 }}</ref> According to the DOE: "Activities towards the goal of expansion of the SPR to one billion barrels, as directed by Congress in the 2005 Act, were cancelled in 2011 after Congress rescinded all remaining expansion funds."<ref name=sprfaq />

===Retired===
* Weeks Island: [[Iberia Parish, Louisiana|Iberia Parish]], Louisiana (decommissioned 1999): Capacity of {{convert|72|Moilbbl|m3}}. This facility was a conventional [[room and pillar]] near-surface [[salt mine]], formerly owned by [[Morton Salt]]. In 1993, a [[sinkhole]] formed on the site, allowing fresh water to intrude into the mine. Because of the mine's construction in salt deposits, fresh water would erode the ceiling, potentially causing the structure to fail. The mine was backfilled with salt-saturated [[brine]]. This process, which allowed for recovery of 98% of the petroleum stored in the facility, reduced the risk of further [[fresh water]] intrusion, and helped prevent the remaining oil from leaking into the [[aquifer]] that is located over the salt dome.

== History ==
===Background===
The SPR was created following the [[1973 energy crisis]]. On November 18, 1974, the United States became a signatory to the Agreement on an International Energy Program (IEP) and a founding member of the [[International Energy Agency]] that the IEP established. One of the key commitments made by the treaty's signatories is to maintain oil stocks of no less than 90 days of net imports.<ref>{{Cite web |last=[[International Energy Agency]] |date=July 2020 |title=Oil Security Toolkit |url=https://www.iea.org/reports/oil-security-toolkit |access-date=16 May 2022 |publisher=IEA}}</ref>

Access to the reserve is determined by the conditions written into the 1975 [[Energy Policy and Conservation Act]] (EPCA), primarily to counter a severe supply interruption. The maximum removal rate, by physical constraints, is {{convert|4.4|Moilbbl/d|m3/d}}. Oil could begin entering the marketplace 13 days after a presidential order.<ref>{{cite web |title=Strategic Petroleum Reserve |url=https://www.energy.gov/fecm/strategic-petroleum-reserve-3#Q12 |website=Energy.gov |language=en}}</ref> The Department of Energy says it has about 59 days of import protection in the SPR. This, combined with private sector inventory protection, is estimated to equal 115 days of imports.{{Citation needed|date=May 2022}}

The EPCA of December 22, 1975, made it policy for the United States to establish a reserve up to 1 billion barrels (159 million m³) of petroleum. A number of existing storage sites were acquired in 1977. Construction of the first surface facilities began in June 1977. On July 21, 1977, the first oil—approximately {{convert|412000|oilbbl|m3}} of Saudi Arabian light crude—was delivered to the SPR. Fill was suspended in Fiscal Year 1995 to devote budget resources to refurbishing the SPR equipment and extending the life of the complex.

===Domestic actions===
On November 13, 2001, shortly after the [[September 11 terrorist attacks]], President [[George W. Bush]] announced that the SPR would be filled, saying, "The Strategic Petroleum Reserve is an important element of our Nation's [[energy security]]. To maximize long-term protection against oil supply disruptions, I am directing the Secretary of Energy to fill the SPR up to its {{convert|700|Moilbbl|m3}} capacity."<ref>{{cite news |url = https://georgewbush-whitehouse.archives.gov/news/releases/2001/11/20011113.html |title = President Orders Strategic Petroleum Reserve Filled |publisher = White House Office of the Press Secretary |date = November 13, 2001 |access-date = December 26, 2014 }}</ref>  The highest prior level was reached in 1994 with {{convert|592|Moilbbl|m3}}. At the time of President Bush's directive, the SPR contained about {{convert|545|Moilbbl|m3}}.  Since the directive in 2001, the capacity of the SPR has increased by {{convert|27|Moilbbl|m3}} due to natural enlargement of the salt caverns in which the reserves are stored.  The [[Energy Policy Act of 2005]] has since directed the [[United States Secretary of Energy|Secretary of Energy]] to fill the SPR to the full {{convert|1|Goilbbl|m3}} authorized capacity, a process which will require a physical expansion of the Reserve's facilities.

On August 17, 2005, the SPR reached its goal of {{convert|700|Moilbbl|m3}}.  Approximately 60% of the crude oil in the reserve is the less desirable sour (high [[sulfur]] content) variety. The oil delivered to the reserve is "royalty-in-kind" oil—royalties owed to the U.S. government by operators who acquire leases on the federally owned [[Outer Continental Shelf]] in the [[Gulf of Mexico]]. These royalties were previously collected as cash, but in 1998 the government began testing the effectiveness of collecting royalties "in kind"—or in other words, acquiring the crude oil itself. This mechanism was adopted when refilling the SPR began, and once filling is completed, revenues from the sale of future royalties will be paid into the federal treasury.

On April 25, 2006, President Bush announced a temporary halt to petroleum deposits to the SPR as part of a four-point program to alleviate high fuel prices.{{Citation needed|date=May 2008}}

On January 23, 2007, President Bush suggested in [[2007 State of the Union Address|his State of the Union]] speech that Congress should approve expansion of the current reserve capacity to twice its current level.<ref name="sotu2007">{{cite news |last = Bush |first = George W. |author-link = George W. Bush |url = https://www.washingtonpost.com/wp-dyn/content/article/2007/01/23/AR2007012301075_pf.html |title = President Bush's 2007 State of the Union Address |newspaper = The Washington Post |date = January 23, 2007 |access-date = January 24, 2007 }}</ref>

On May 16, 2008, the [[U.S. Department of Energy]] (DOE) said it would halt all deliveries to the Strategic Petroleum Reserve sometime in July. This announcement came days after Congress voted to direct the Bush administration to do the same.<ref>{{cite web |url = http://www.eere.energy.gov/news/news_detail.cfm/news_id=11779 |title = DOE Stops Filling the Strategic Petroleum Reserve |publisher = United States Department of Energy |date = May 21, 2008 |access-date = February 25, 2012 }}</ref>

On January 2, 2009, after a sharp decline in fuel prices, DOE said that it would begin buying approximately {{convert|12000000|oilbbl}} of crude oil to fill the Strategic Petroleum Reserve, replenishing supplies that were sold after hurricanes [[Hurricane Katrina|Katrina]] and [[Hurricane Rita|Rita]] in 2005. The purchase would be funded by the roughly $600 million received from those emergency sales.

On September 9, 2011, a Notice of Cancellation was published in the ''[[Federal Register]]'' after Congress rescinded funding for the expansion of the Strategic Petroleum Reserve, reversing the SPR expansion initiative previously directed under the Energy Policy Act of 2005.<ref name=sprfaq>{{cite web |url = http://energy.gov/fe/services/petroleum-reserves/strategic-petroleum-reserve/spr-quick-facts-and-faqs#Q7 |title = SPR Quick Facts and FAQs |publisher = United States Department of Energy |access-date = December 24, 2014 }}</ref>

On October 20, 2014, a report by the U.S. [[Government Accountability Office]] (GAO) recommended reducing the size of the Reserve. According to the report, the amount of oil held in reserve exceeds the amount required to be kept on hand given the need for imported crude oil had decreased in recent years. The report said the DOE agreed with the GAO recommendation.<ref>
{{cite news |title = U.S. Oil Exports Would Lower Gas Prices, Government Report Says |newspaper = The Wall Street Journal |url = https://online.wsj.com/articles/u-s-oil-exports-would-lower-gas-prices-government-report-says-1413820500 |date = October 20, 2014 |access-date = October 20, 2014 |first = Christian |last = Berthelsen }}</ref>

On March 19, 2020, President [[Donald Trump]] directed the Department of Energy to fill the Strategic Petroleum Reserve to maximum capacity, when oil was priced at $24 per barrel. This directive was given to help support domestic oil producers given the impending economic collapse from COVID-19 and extreme drops in international oil markets.<ref name = "BloombergSep2022"/><ref>{{Cite web |url = https://www.energy.gov/articles/department-energy-executes-direction-president-trump-announces-solicitation-purchase-crude |title = Department of Energy Executes on Direction of President Trump, Announces Solicitation to Purchase Crude Oil for the SPR to Provide Relief to American Energy Industry }}</ref> However, funding was blocked by Congress, with Senate Democratic Leader [[Chuck Schumer]] stating that Democrats had blocked a "bailout for big oil".<ref>{{cite web |url=https://www.factcheck.org/2022/04/strategic-petroleum-reserve-oil-stocks-declined-under-trump-contrary-to-his-claim/ |title=Strategic Petroleum Reserve Oil Stocks Declined Under Trump, Contrary to His Claim |last=Gore |first=D'Angelo |website=FactCheck.org |date=April 1, 2022 |access-date=April 4, 2022}}</ref><ref name = "BloombergSep2022">{{cite web |url=https://www.bloomberg.com/news/articles/2022-09-13/biden-may-buy-oil-just-below-80-democrats-stymied-trump-at-24 |title=Biden May Buy Oil Just Below $80; Democrats Stymied Trump at $24 |work = Bloomberg |date=September 13, 2022}}</ref>

In 2022, the Biden administration sold 180 million barrels of oil from the Strategic Petroleum Reserve over 6 months. The sale lowered the SPR to its lowest levels in 40 years and was the largest ever release of oil from the SPR.<ref name = "ReutersApril"/> SPR drawdowns continued into 2023, lowering the SPR by 45% from January 2021.<ref name = "politico16oct"/> Since the 2022 sales, the Department of Energy bought back 32.3 million barrels of oil, aiming to purchase at a maximum price of $79 per barrel.<ref name = "ReutersApril"/> However, oil has been purchased exceeding the $79 price cap in March 2024. As of April 2024, further SPR purchases were cancelled due to rising oil prices.<ref>{{cite web |url=https://www.bloomberg.com/news/articles/2024-04-03/us-cancels-latest-oil-reserve-refill-plan-amid-high-prices |title=US Cancels Latest Oil Reserve Refill Plan Amid High Prices |work = Bloomberg |date=April 3, 2024}}</ref>

===Emergency sales to Israel===
According to the 1975 [[Sinai Interim Agreement]] signed by the United States and [[Israel]], as a precondition for Israel's return of the [[Sinai Peninsula]] and its associated oil reserves to [[Egypt]], in an emergency the United States was obligated to make oil available for sale to Israel for up to five years.<ref>{{cite web |last = Phillips |first = James |url = http://www.heritage.org/Research/MiddleEast/bg76.cfm |title = The Iranian Oil Crisis |publisher = [[The Heritage Foundation]] |date = February 28, 1979 |access-date = February 25, 2012 |url-status = dead |archive-url = https://web.archive.org/web/20100126173509/http://www.heritage.org/Research/MiddleEast/bg76.cfm |archive-date = January 26, 2010 }}</ref> Israel has never invoked the agreement {{citation needed|date=November 2021}}, however. The agreement was extended in 1979, 1994, 2004, and, most recently, in 2015 for a ten-year period.<ref>{{cite news |url = http://www.israelnationalnews.com/News/Flash.aspx/323545 |title = US and Israel Sign Extension of Oil Supply Agreement |date = April 17, 2015 |publisher = Israel National News |access-date = June 21, 2016 }}</ref>

===International obligations===
As a member of the [[International Energy Agency]] (IEA), the United States must stock an amount of petroleum equivalent to at least 90 days of U.S. imports. The SPR contained an equivalent to 141 days of imports as of September 2016. The United States is also obligated to contribute 43.9% of petroleum in any IEA-coordinated release.<ref name=twip2016/>

== Limitations ==
The Strategic Petroleum Reserve is primarily a [[crude petroleum]] reserve, not a stockpile of [[refined petroleum fuel]]s such as [[gasoline]], [[Diesel fuel|diesel]] and [[kerosene]]. Although the United States maintains some extra supply of refined petroleum fuels, e.g., the [[Northeast Home Heating Oil Reserve]] and [[Northeast Gasoline Supply Reserve]] under the [[wikt:aegis|aegis]] of the Department of Energy (DOE), the government does not maintain gasoline reserves on anything like the scale of the SPR. The SPR is intended to give the United States protection from disruptions in oil supplies. In the event of a major disruption to [[Oil refinery|refinery]] operations, the United States would have to call on members of the [[International Energy Agency]] that stockpile refined products, and use refining capacities outside of the continental United States for relief.

There have been suggestions that the DOE should increase its supplies and stockpile both gasoline and [[jet fuel]].<ref name="cnnmoney">{{cite news |first = Pilar |last = Tejerina |url = https://money.cnn.com/2005/09/30/news/economy/gas_reserve/index.htm |title = Senators propose gasoline reserve |publisher = CNN |date = September 30, 2005 |access-date = January 24, 2007 }}</ref>
Some countries and zones have a strategic reserve of both [[petroleum]] and [[petroleum product]]s. In some cases, this includes a [[Global strategic petroleum reserves#Europe|strategic reserve of jet fuel]].<ref name=FranceMeltsBeams>{{cite web |url = http://www.iea.org/textbase/nppdf/free/2000/oilsecu2001.pdf |title = Oil Supply Security: The Emergency Response Potential of IEA Countries in 2000 |access-date = March 13, 2007 |quote = French stockholding legislation requires that jet fuel stocks cover at least 55 days of consumption }}{{dead link|date=July 2021|bot=medic}}{{cbignore|bot=medic}}</ref>

Former [[Secretary of Energy]] [[Samuel Bodman]] said that the Department would consider new facilities for refined products as part of an expansion of {{convert|1|to|1.5|Goilbbl|m3}}.{{citation needed|date=June 2015}}<ref>Bodman, S.W. (2007, January 23). ''Statement from Energy Secretary Samuel W. Bodman on the Expansion of the Strategic Petroleum Reserve to 1.5 Billion''. Department of Energy. https://www.energy.gov/articles/statement-energy-secretary-samuel-w-bodman-expansion-strategic-petroleum-reserve-15-billion</ref>

== Drawdowns ==

===Petroleum sales - Prior to 2015===
* 1985: Test sale—{{convert|1.1|Moilbbl|m3}}
* 1990–1991: [[Desert Storm]] sale—{{convert|21|Moilbbl|m3}}
** {{convert|4|Moilbbl|m3}} in October 1990 test sale<ref>{{cite web |url = https://www.energy.gov/fecm/strategic-petroleum-reserve-0 |title = History of SPR Releases |website = Department of Energy, Office of Fossil Energy and Carbon Management |access-date = February 1, 2022 }}</ref>
** {{convert|17|Moilbbl|m3}} in January 1991 presidentially ordered drawdown
* 1996–1997: {{convert|28|Moilbbl|m3}} non-emergency sales for deficit reduction
* July–August 2000: {{convert|2.8|Moilbbl|m3}} to supply the [[Northeast Home Heating Oil Reserve]].
* September–October 2000: {{convert|30|Moilbbl|m3}} in response to a concern over low [[distillate]] levels in the northeastern U.S.
* 2005 [[Hurricane Katrina]] sale: {{convert|11|Moilbbl|m3}}—Katrina shut down 95% of crude production and 88% of natural gas output in the Gulf of Mexico.  This amounted to a quarter of total U.S. output.  About 735 oil and natural gas rigs and platforms had been evacuated due to the hurricane.
* 2011 [[Arab Spring]] sale: {{convert|30|Moilbbl|m3}}—non-emergency sale to offset disruptions caused by political [[Libyan Civil War (2014–present)|upheaval in Libya]] and elsewhere in the Middle East. The amount was matched by [[International Energy Agency|IEA]] countries, for a total of {{convert|60|Moilbbl|m3}} released from stockpiles around the world.<ref>{{cite news |url = https://money.cnn.com/2011/06/23/markets/oil_prices/index.htm?iid=Popular |publisher = CNN |first = Aaron |last = Smith |title = U.S. to release oil from strategic reserve |date = June 23, 2011 }}</ref>

===Petroleum exchanges and loans===
''Note: Loans are made on a case-by-case basis to alleviate supply disruptions. Once conditions return to normal, the loan is returned to the SPR with additional oil as interest.''
* April–May 1996: {{convert|900000|oilbbl|m3}} lent to [[ARCO]] to alleviate [[Pipeline transport|pipeline]] blockage.
* August 1998: {{convert|11|Moilbbl|m3}} lent to [[PEMEX]] in return for {{convert|8.5|Moilbbl|m3}} of higher-quality crude.
* June 2000: {{convert|1|Moilbbl|m3}} lent to [[Citgo]] and [[Conoco]] in response to shipping channel blockage.
* October 2002: {{convert|296000|oilbbl|m3}} lent to Shell Pipeline Company in advance of [[Hurricane Lili]].
* September–October 2004: {{convert|5.4|Moilbbl|m3}} lent to Astra Oil, [[ConocoPhillips]], Placid Refining, [[Shell Oil Company]], and [[Premcor]] after [[Hurricane Ivan]].
* September–October 2005: {{convert|9.8|Moilbbl|m3}} lent to [[ExxonMobil]], Placid Refining, [[Valero Energy Corporation|Valero]], [[BP]], [[Marathon Oil]], and [[TotalEnergies]] after [[Hurricane Katrina]]. Purchases of crude oil would then resume in January 2009 using revenues available from the 2005 [[Hurricane Katrina]] emergency sale. The DOE purchased {{convert|10.7|Moilbbl|m3}} at a cost of $553 million.<ref>{{cite web |archive-url = https://web.archive.org/web/20130408222706/http://www.fe.doe.gov/programs/reserves/spr/index.html |url = http://www.fe.doe.gov/programs/reserves/spr/index.html |title = Strategic Petroleum Reserve – Profile |date = February 27, 2013 |archive-date = April 8, 2013 }}</ref>
* January–February 2006: {{convert|767000|oilbbl}} lent to Total Petrochemicals USA due to closure of the [[Sabine–Neches Waterway]] to deep-draft vessels after a barge accident in the channel.<ref name=spr-facts>{{cite web |url = http://www.fossil.energy.gov/programs/reserves/spr/spr-facts.html |title = Quick Facts about the Strategic Petroleum Reserve |publisher = United States Department of Energy |access-date = February 25, 2012 }}</ref>
* June 2006: {{convert|750000|oilbbl|m3}} of [[Sour crude oil|sour crude]] lent to [[ConocoPhillips]] and [[Citgo]] due to the closure for several days of the [[Calcasieu Ship Channel]] caused by the release of a mixture of storm water and oil. Repaid in early October 2006.
* September 2008: {{convert|630000|oilbbl|m3}} lent to Citgo, Placid Refining, and [[Marathon Oil]] due to disruptions from [[Hurricane Gustav]].<ref>{{cite news |url = https://money.cnn.com/2008/09/12/markets/oil/index.htm |title = Oil ends up after dip below $100 |publisher = CNN |date = September 12, 2008 }}</ref>
* August 2017: 200,000 barrels of sweet crude and 300,000 barrels of sour crude were lent to [[Phillips 66]] due to disruptions from [[Hurricane Harvey]].<ref>{{Cite news |url = http://www.mercurynews.com/2017/08/31/us-taps-strategic-oil-reserves/ |title = US taps strategic oil reserves |date = August 31, 2017 |work = The Mercury News |access-date = August 31, 2017 }}</ref>

===Drawdowns since 2015===

Since 2015, Congress has been selling the oil in the reserve to fund the deficit, in unpublicized sales. The U.S. Department of Energy has run seven sales since 2017, selling more than 132 million barrels, or about 18.2% of what had been in the reserve.<ref name=puko-ferek/><ref name="Energy Information Agency"/>

According to legislation already in place, the amount of oil in the reserve could fall to as little as 238 million barrels by 2028.  This will be a 67% reduction of oil in the reserve since 2010.<ref name=EIa20180221 />

The legislation is summarized below:

* The Bipartisan Budget Act (Section 404), enacted in 2015, includes authorization for funding an SPR modernization program to support improvements deemed necessary to preserve the long-term integrity and utility of SPR's infrastructure by selling up to $2 billion worth of SPR crude oil in fiscal years 2017 through 2020. Although the estimated volumes presented in the chart above are based on an assumed oil price of $50 per barrel, the actual final sales volumes will depend on how SPR decides to allocate the sales volumes across those fiscal years and the actual price of crude oil at the time of the sales. For the Section 404 sales, SPR must get an appropriation from Congress to approve its requested sales revenue target.<ref name="start-this-month">{{cite web |title = Strategic Petroleum Reserve sales expected to start this month |work = Today in Energy |publisher = Energy Information Administration |date = January 26, 2017 |url = https://www.eia.gov/todayinenergy/detail.php?id=29692 }}</ref>
* Another section of the Bipartisan Budget Act (Section 403), enacted in 2015, mandates SPR crude oil sales for fiscal years 2018 through 2025 on a volumetric basis, rather than on a dollar basis, as specified in Section 404. The revenues from sales authorized under section 403 will be deposited into the general fund of the U.S. Department of the Treasury.<ref name="start-this-month"/>
* The Fixing America’s Surface Transportation Act, enacted in December 2015, calls for SPR sales totaling 66 million barrels from fiscal years 2023 through 2025.<ref name="start-this-month"/>
* The 21st Century Cures Act, enacted in December 2016, calls for the sale of 25 million barrels of SPR crude oil for fiscal years 2017 through 2019. The first portion of these sales is expected in late spring 2017.<ref name="start-this-month"/>
* In December 2016, the DOE announced it would begin the sale of {{convert|190|Moilbbl|m3}} in January 2017.<ref name=twip2016>{{cite web |title = This Week in Petroleum |url = http://www.eia.gov/petroleum/weekly/archive/2016/161221/includes/analysis_print.cfm |publisher = United States Department of Energy |access-date = December 21, 2016 |date = December 21, 2016 }}</ref>
* The Tax Cuts and Jobs Act of 2017, enacted in December 2017, calls for the sale of 7 million barrels over the two-year period of FY 2026 through FY 2027.<ref name=EIa20180221 />
* The Bipartisan Budget Act of 2018, enacted in February 2018, calls for the sale of 30 million barrels over the four-year period of FY 2022 through FY 2025, 35 million barrels in FY 2026, and 35 million barrels in FY 2027.<ref name=EIa20180221 />
* In November 2021, the White House announced the release of {{convert|50|Moilbbl|m3}} to address high gasoline prices.<ref name=sprcnn>{{cite web |title = Biden To Announce Release of Oil Reserves In Effort To Lower Gas Prices |url = https://www.cnn.com/2021/11/23/politics/biden-oil-reserves-gas-prices/index.html |publisher = CNN |access-date = November 23, 2021 |date = November 23, 2021 }}</ref><ref name="Reuters2021">{{cite web |url = https://www.reuters.com/markets/commodities/us-set-unveil-emergency-oil-release-bid-fight-high-prices-2021-11-23/ |title = U.S. challenges OPEC+ with coordinated release of oil from reserves |publisher = Reuters |access-date = November 23, 2021 }}</ref>
* On March 1, 2022, President Biden announced the release of 30 million barrels of oil from the reserve in response to [[2022 Russian invasion of Ukraine|Russia's invasion of Ukraine]].<ref>{{cite web |first = Jacob |last = Fischler |title = Biden OKs release of 30 million barrels of oil from Strategic Petroleum Reserve |url = https://www.nbc12.com/2022/03/05/biden-oks-release-30-million-barrels-oil-strategic-petroleum-reserve/ |date = March 5, 2022 }}</ref>
*On March 31, 2022, President Biden announced that his administration would release 1 million barrels of oil per day from the reserve for the next 180 days.<ref name="NYTimes-April2022" /><ref>{{cite news |url=https://www.axios.com/biden-strategic-petroleum-reserve-oil-release-382b5121-a795-4c33-80f0-b9dc832e46e4.html |title=Biden ordering massive release of oil in bid to curb gas prices |last1=Geman |first1=Ben |last2=Doherty |first2=Erin |website=Axios |date=April 1, 2022 |access-date=April 4, 2022}}</ref>

== See also ==
* {{Portal-inline|Energy}}
* [[Global strategic petroleum reserves]]
* [[Strategic natural gas reserve]]

==References==
{{reflist|30em}}

==Further reading==
* Beaubouef, Bruce A.  ''The Strategic Petroleum Reserve: U.S. Energy Security and Oil Politics, 1975-2005'' (Texas A&M University Press, 2007).
* Strait, Albert L. ''Strategic Petroleum Reserve'' (Nova Science Publishers, 2010).

==External links==
{{commons category}}
{{Spoken Wikipedia|Strategic_Petroleum_Reserve_(United_States).ogg|date=July 30, 2019}}
* [https://www.energy.gov/ceser/strategic-petroleum-reserve Official website]

{{Presidency of Gerald Ford}}

[[Category:Energy infrastructure in the United States]]
[[Category:Energy security]]
[[Category:Oil storage]]
[[Category:Petroleum economics]]
[[Category:Petroleum in the United States]]
[[Category:Strategic reserves of the United States]]
[[Category:United States Department of Energy facilities]]
[[Category:United States federal energy legislation]]