Houston Chronicle Op-ed: We Need a Modernized Strategic Reserve, Not a Smaller One

In late 2015, the Congress found that the Strategic Petroleum Reserve was, "one of the nation's most valuable energy security assets." Why would the Trump Administration conclude, just a little over a year later, that the SPR is not so valuable after all?

The rationale for the administration's current budget recommendation - selling off more than half of the SPR's current inventory, shutting down two of four storage sites in Texas and Louisiana, and eliminating the Northeast Gasoline Reserve - was supported by Energy Secretary Rick Perry in congressional testimony last month.

That rationale, however - that we are producing a lot more domestic oil so we can close SPR sites - appears to be grounded in a view of oil markets in 1973.

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