United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Resources, Community, and Economic Development Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1994-05-24 monographic deposited born digital GA 1.13:RCED-94-126 https://www.govinfo.gov/app/details/GAOREPORTS-RCED-94-126 P0b002ee18037bf12 f:rc94126 DGPO 2010-08-12 2011-03-23 GAOREPORTS-RCED-94-126 machine generated eng fdlp REPORT GAOREPORTS-RCED-94-126 RCED-94-126 Oil resources Crude oil pipeline operations Energy supplies Petroleum industry Domestic crude oil Petroleum refining facilities Microeconomic analysis Oil importing Petroleum prices Fuel sales Strategic Petroleum Reserve Naval Petroleum Reserve No. 1 (Elk Hills, CA) Naval Petroleum Reserve Alaskan North Slope Oil California SPR Letter Report RCED The government-owned and operated Naval Petroleum Reserve (NPR) in Elk Hills, California--the seventh largest oil field in the lower 48 states--generated oil sales revenues of $327 million in 1992. The Energy Department (DOE) sells most of this oil to California refiners through competitive bids. The prices received by the government for this oil have been lower than prices for crude oil in other parts of the country. GAO concludes that it will be difficult for DOE to boost revenues from NPR oil sales by selling oil to Gulf Coast or midcontinent oil refineries because this oil is of lower quality than other available crudes and shipping costs are high. This report explores other ways that DOE may be able to increase revenues. For example, DOE bills its customers more often than private oil producers do, resulting in buyers making lower bids to compensate for the higher administrative costs. DOE also does not market its oil as aggressively as private producers do. In testimony before Congress, GAO summarized this report and also discussed (1) the relative priority that should be given to several options for improving the readiness and expansion of the Strategic Petroleum Reserve and (2) the evolving mission of the International Energy Agency; see: Energy Policy: Energy Policy and Conservation Act Reauthorization, by Victor S. Rezendes, Director of Energy and Science Issues, before the Subcommittee on Energy and Power, House Committee on Energy and Commerce. GAO/T-RCED-94-214, May 25, 1994 (15 pages). https://www.govinfo.gov/content/pkg/GAOREPORTS-RCED-94-126/html/GAOREPORTS-RCED-94-126.htm GAO/RCED-94-126 https://www.govinfo.gov/app/details/GAOREPORTS-RCED-94-126 Letter Report GAO/RCED-94-126; Naval Petroleum Reserve: Limited Opportunities Exist to Increase Revenues From Oil Sales in California; Oil resources Crude oil pipeline operations Energy supplies Petroleum industry Domestic crude oil Petroleum refining facilities Microeconomic analysis Oil importing Petroleum prices Fuel sales Strategic Petroleum Reserve Naval Petroleum Reserve No. 1 (Elk Hills, CA) Naval Petroleum Reserve Alaskan North Slope Oil California SPR