The U.S. Strategic Petroleum Reserve, stored in underground salt caverns along the Louisiana and Texas Gulf Coast, has fallen below 300 million barrels for the first time since the early 1980s. Experts warn that continued drawdowns could damage the caverns, reduce the SPR’s ability to respond quickly to future emergencies and potentially threaten the integrity of the storage system.
The Government Accountability Office has found that repeated drawdowns and refills can deform caverns and reduce their long-term viability, raising particular concerns for Louisiana and the broader Gulf Coast during future emergencies such as hurricanes. CNBC has the full story.
