Excerpt
President Clinton decided to release 30 million barrels of oil from the SPR to lessen concerns about shortages and lower energy prices, but there is debate on whether the situation consitituted such emergency action.
In This Issue
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Foreword
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World Oil Production
Current Trends and Long-term Projections
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Overview of the SPR
Origins and Purpose
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Chronology of Events
Oil Reserve Policy from 1975 to 2000
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Drawdown of the Reserve
The Debate Over When and How to Use the SPR
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Legislative Background
Recent Action on the Strategic Petroleum Reserve
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Northeast Heating Oil Reserve
Protection Against Winter Fuel Shortages
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Crude Oil Exchange
Statement by Energy Secretary Bill Richardson
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Pro & Con
Was the Administration's Drawdown of the Strategic Petroleum Reserve a Sound Decision?
