DOE denies appeal to release reserve heating oil
May 5, 2008 9:12 AM
The Department of Energy (DOE) has denied appeals to release product from the Northeast Home Heating Oil Reserve, according to the Petroleum Marketers Association of America (PMAA) and the New England Fuel Institute (NEFI), which ask for the release.
DOE also denied the associations' request to halt filling the Strategic Petroleum Reserve.
The department said in a letter to PMAA President Dan Gilligan that it did not "conclude that there is a severe energy supply interruption at this time." DOE also said that filling the petroleum reserve is “essential to provide not only insurance against the damage of a server energy supply interruption, but also economic security which will allow industry to manage their supplies in the face of market volatility.”
More information about the reserve guidelines for releasing heating oil can be found online at the DOE Web site.
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