Moniz: Harvey’s Destruction Demonstrates Value of Strategic Petroleum Reserve

The nation’s Strategic Petroleum Reserve, with its supplies of crude oil and gasoline, was created by statute to protect the U.S. economy from “severe energy supply interruption.” This authority, exercised by a presidential declaration, can be used in the event of a disruption of either domestic or imported petroleum products.

The unprecedented rainfall, flooding and destruction from Hurricane Harvey this week has struck the energy nerve center of the nation and is exactly the kind of event of “significant scope and duration, and of an emergency nature” that the SPR was created to address.

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