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In 1973, the United States and other western countries were shocked by the Arab oil embargo. Lines formed at gasoline pumps; fuel stations ran out of supply; prices skyrocketed; and the nation realized its vulnerability to decisions made by leaders of countries half a world away. In response, the U.S. Strategic Petroleum Reserve (SPR), which was signed into law by President Gerald Ford in 1975, has become the nation’s primary tool of energy policy. Following its first major use during the Persian Gulf War of 1991, officials and policy makers at the highest levels increasingly turned to the SPR to stave off shortages and mitigate rising energy prices. Author and historian Bruce A. Beaubouef examines, for the first time, the interactions that have shaped the development of the SPR. He argues that the SPR has survived because it is a passive regulatory tool that serves to protect energy consumers and petroleum consumption and does not compete with the American oil industry. Indeed, by the late twentieth century, as American import dependency reached new heights, refiners and transporters increasingly relied upon the SPR as a ready resource to help maintain feedstock when supplies were tight or disrupted. In a time of continued vulnerability, this definitive work will be of interest to those concerned with the history, economy, and politics of the oil and gas industry, as well as to historians and practitioners of oil and energy policy.

Table of Contents

  1. Cover
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  1. Title Page, Copyright Page
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  1. CONTENTS
  2. p. vii
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  1. FIGURES
  2. p. ix
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  1. TABLES
  2. p. xi
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  1. LIST OF ABBREVIATIONS
  2. pp. xiii-xiv
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  1. INTRODUCTION: The SPR and the American Political Economy
  2. pp. 1-7
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  1. 1. THE ENERGY CRISIS BEGINS, 1970–75
  2. pp. 8-40
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  1. 2. BUILDING THE RESERVE, 1976–79
  2. pp. 41-92
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  1. 3. THE ENERGY CRISIS RETURNS,1978–80
  2. pp. 93-109
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  1. Images
  2. pp. 110-115
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  1. 4. MATURATION AND ASCENSION,1980–86
  2. pp. 116-148
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  1. 5. DRAWDOWN FOR WAR, 1990–91
  2. pp. 149-180
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  1. 6. SMOOTHING PRICE CYCLES,1996–2000
  2. pp. 181-218
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  1. 7. CONCLUSIONS: The SPR and U.S. Petroleum Reserves Policy
  2. pp. 219-245
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  1. EPILOGUE
  2. pp. 246-250
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  1. NOTES
  2. pp. 251-300
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  1. SOURCES AND BIBLIOGRAPHY
  2. pp. 301-322
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  1. INDEX
  2. pp. 323-334
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Additional Information

ISBN
9781603444644
Related ISBN
9781585446001
MARC Record
OCLC
652326552
Pages
350
Launched on MUSE
2012-01-01
Language
English
Open Access
No
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