Reagan signs law to spur filling of US oil reserve

President Reagan signed into law a measure requiring the government to move rapidly in filling the Strategic Petroleum Reserve, designed to lessen the shock of any oil import cutoff.

The measure, called the National Energy Emergency Preparedness Act of 1982, requires that the oil be added to the petroleum reserve at the rate of 300,000 barrels a day. Mr. Reagan said the will spend nearly $11 billion between now and 1984 to ensure that the economy would be safe from the effects of a cutoff.

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK