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There's a new rush for petroleum from Alaska to the North Pole. Can ConocoPhillips and other energy giants find another Saudi Arabia under the ice?
Despite its limitations, the internal combustion engine won't be pushed aside so easily, but it can be made better.
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 with a powerful response option should a disruption in commercial oil supplies threaten the U.S. economy. It also allows the United States to meet part of its International Energy Agency obligation to maintain emergency oil stocks, and it provides a national defense fuel reserve.
The Energy Policy Act of 2005 directed the Secretary of Energy to fill the SPR to its authorized one billion barrel capacity. This required the Department of Energy to complete proceedings to select sites necessary to expand the SPR to one billion barrels.
The Northeast Home Heating Oil Reserve is a 2-million barrel supply of emergency fuel oil for homes and businesses in the northeastern United States. Established in 2000, the Heating Oil Reserve is an "emergency buffer" that can supplement commercial fuel supplies should the heavily oil-dependent region be hit by a severe heating oil supply disruption. Since its creation, the Heating Oil Reserve has not been used, but 35,000 barrels were sold during 2007 for budgetary reasons. The Government will use the proceeds from the sale to repurchase a quantity of heating oil in the future.
Originally posted by TreeHuggerLtd.
If you want people to focus less on oil, tell them to stop driving and stop buy more # they dont need. Sadly Americans are lazy with consumer oriented mentalities...thus they have a high demand for oil.
People would much rather buy cool stuff and drive all over the #ing place than care about nature or animals or the millions of other organisms we share the planet with. However, when people # with nature too much, nature likes to # back.
Go drill that #, grab your black gold, kill the caribou, pollute your cities, and then sit back and watch what the planet does. I hope you enjoy the show.