InvestorsHub Logo
Followers 800
Posts 50882
Boards Moderated 2
Alias Born 12/12/2004

Re: None

Monday, 06/23/2008 5:55:03 PM

Monday, June 23, 2008 5:55:03 PM

Post# of 49606
Some interesting petroleum information:

The U.S. Strategic Petroleum Reserve is the largest stockpile of government-owned emergency crude oil in the world. Established in the aftermath of the 1973-74 oil embargo, the SPR provides the President of the United States with a powerful response option should a disruption in commercial oil supplies threaten the U.S. economy.
The Energy Policy Act OF 2005 directed the Secretary of Energy to fill the SPR to its authorized one billion barrel capacity.
Emergency crude oil ( sweet and sour ) is stored in the SPR in salt caverns, created deep within the massive salt deposits that underlie part of Texas and the Louisiana coastline.
The caverns offer the best security and are most affordable means of storage, costing up to 10 times less than aboveground tanks, and 20 times less than hard rock mines.
Storage locations along the Gulf Coast were selected because they provide the most flexible means for connecting to the nations commercial oil transport network. Strategic Reserve oil can be distributed through interstate pipelines to nearly half of the nations oil refineries, or loaded into ships or barges for transport to other refineries.
Strategic Petroleum Reserve caverns range in size from 6 to 35 million barrels in capacity; a typical cavern holds 10 million barrels and cylindrical in shape with a diameter of 200 feet and a height of 2000 feet. One storage cavern is large enough for Chicago's Sears Tower to fit inside with room to spare. The Reserve contains 62 of these huge underground caverns.




To be is to do.(Socrates) To do is to be.(Plato) Do be do be do!!!!!(Sinatra)

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.