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114744 1 (1981-03-30)

handle is hein.gao/gaobadyqw0001 and id is 1 raw text is: 





           UITED STATES GENERAL ACCOUNTING OFFICE
                   WASHINGTON, D.C. 20548


                                    FOR RELEASE ON DELIVERY
                                    Expected at 11:00 a.m.
                                    Monday, March 30, 1981

                         STATEMENT OF
                       J. DEXTER PEACH
           DIRECTOR, ENERGY AND MINERALS DIVISION
                         BEFORE THE
        SUBCOMMITTEE ON ENERGY AND MINERAL RESOURCES
                           OF THE
      SENATE COMMI T~E ON ENERGY AND NATURAL RESOURCES
                     I       ON
               THE TRATEGIC PETROLEUM RESERVJ


Mr. Chairman and Members of the Subcommittee:

     We welcome the opportunity to be bere to discuss GAO's

work on the Strategic Petroleum Reserve (SPR) Program. We

have been following the Federal Government's progress in

developing the SPR for several years, and have reported on

various aspects of the program. Our ongoing SPR work is in

response to a July 23, 1980, bipartisan request from members

of the Senate Energy and Natural Resources Committee and the

former House Interstate and Foreign Commerce Committee that

we prepare status reports on the administration's activities

to implement title VIII of the Energy Security Act (P.L. 96-

294). We have issued four in a continuing series of status

reports and expect to continue issuing status reports about

monthly. My testimony this morning is based on these reports

and our most recent work concerning the status of the program.





                                                   114744


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