[Public Papers of the Presidents of the United States: George W. Bush (2001, Book II)] [November 13, 2001] [Page 1406] [From the U.S. Government Publishing Office www.gpo.gov]
Statement on the Strategic Petroleum Reserve November 13, 2001 The Strategic Petroleum Reserve (SPR) is an important element of our Nation's energy security. To maximize long-term protection against oil supply disruptions, I am directing today the Secretary of Energy to fill the SPR up to its 700 million barrel capacity. The SPR will be filled in a deliberate and cost-effective manner. This will be done principally through royalty-in-kind transfers to be implemented by the Department of Energy and the Department of the Interior. Our current oil inventories, and those of our allies who hold strategic stocks, are sufficient to meet any potential near-term disruption in supplies. Filling the SPR up to capacity will strengthen the long-term energy security of the United States. George W. Bush Note: An original was not available for verification of the content of this statement.