Does US still need a strategic Petroleum Reserve?
Wall Street Journal:
U.S.’s Aging Oil-Reserve Infrastructure Needs an UpdateWith Apache Corporation's recent find in the Permian Basin, it is questionable whether the SPR makes sense anymore. It was the product of dealing with OPEC's threats to cut off oil to achieve its political goals, but the US is now the world's largest producer of oil and gas. Apache's recent find of 75 trillion cubic feet of natural gas and more than 3 billion barrels of oil is more than enough to deal with any cutoff of imported oil.
Energy Department report also questions whether such a large strategic stockpile is still needed