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EMD-81-24 1 (1980-11-03)

handle is hein.gao/gaobabbgx0001 and id is 1 raw text is: COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON D.C. 20540 0..067 November 3, 1980 ;~ ee -o o6t 03 The Honorable Henry M. Jackson o6o10 Chairman, Committee on Energy o and Natural Resources € e, ,+ Un ted States Senate er oit 40 Thl Honorable Harley 0. Staggers a 4e Chairman, Committee on Interstate ... - and Foreign Commerce House of Representatives Subject: (status of-Strategic Petroleum Reserve Activities-October 1980 (EMD-81-24) This is the second in a series of monthly reports reR uested by certain members of the Senate Committee on En rgy and Natural Resources and the House Committee on In 1erstate and Foreign Commerce on the administration's activ4ties to implement title VIII of the Energy Security Ac'. )(See encl. II for the July 23, 1980, letter requesting th se reviews.) Title VIII requires the President to resume fi ling the Strategic Petroleum Reserve (SPR) at an average ra e of at least 100,000 barrels per day for fiscal year 19 1 and succeeding years. Title VIII also requires the Pr sident to amend the Department of Energy's (DOE's) eniitlement regulations so that the Gov nment, in effect, pays lower tier prices for SPR crude oil Our first report on the status of SPR activities (EMD-80-I27, Sept. 23, 1980) stated that, as of September 5, 1980, the administration appeared to be making a concerted effort to comply with these title VIII requirements, although most of its attention was directed to the minimum supply requirements. This second report discusses the administration's activities taken between September 5, 1980, and October 17, 1900, to fill the SPR. Enclosure I presents additional de tails on --the results of the August 1980 competitive exchange of SPR oil, 1(306259) 113912

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