DOE recently released a congressionally-mandated report, Long Term Strategic Review of the Strategic Petroleum Reserve (SPR). Among other things, it documents a number of problems with logistics and maintenance of the petroleum reserve. In June, in an interview with Platts, the DOE official responsible for the SPR admitted that the “infrastructure, which currently stores 695 million barrels at four sites along the U.S. Gulf Coast, is nearing the end of its design life and is in need of a roughly $2 billion makeover.” He also admitted that there had been “several significant equipment failures over the last couple years that have affected our operational capability.”
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