The House Energy and Commerce Committee has proposed $2 billion to repair, replenish, and maintain the Strategic Petroleum Reserve. The proposal includes $1.32 billion for oil purchases and $218 m for maintenance, with the remaining funding allocated for the buyback of previously mandated SPR sales.
Energy Sec. Wright has called for the SPR to be refilled, for the infrastructure to be reviewed, and for plans to be developed to safeguard this strategically important asset.
Although not ostensibly a reason for refilling the reserve, doing so will reduce the risk of a freefall in oil prices and the associated economic turmoil.
Bud's Offshore Energy (BOE) 