Strategic Petroleum Reserve: A Closer Look at the Drawdown : Hearing Before Subcommittee on Energy and Power of the Committee on Commerce, House of Representatives, One Hundred Sixth Congress, Second Session, October 19, 2000, Volume 4U.S. Government Printing Office, 2001 - 115 páginas |
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Palavras e frases frequentes
30 million barrels additional administration Administration's Admiral Watkins awarded barrels of oil BARTON bidders bidding process biodiesel BOLES BOUCHER BURR capacity Chairman committee companies Congress consumers contract crude oil decision delivery Department of Energy disruption distillate domestic drawdown emergency energy policy Equiva Trading ergy exchange export fact Federal fuel oil gasoline gentleman going hearing heating oil prices heating oil reserve home heating oil impact important increase industry issue John Boles Jones Act KRIPOWICZ LARGENT letter of credit MAJAK MANZONI marketplace ment national energy natural gas Northeast NYMEX oil inventories oil market OPEC percent PICKERING political PREPARED STATEMENT President question refined products Secretary of Energy SHIMKUS shortages small businesses solicitation SPR crude SPR oil SPR release SPR swap stocks Strategic Petroleum Reserve subcommittee SURMA tegic Texas Thank tion United Wall Street Journal winter WOLKOFF WYNN
Passagens conhecidas
Página 29 - States or to fulfill its declared international obligations; and (C) to restrict the export of goods where necessary to protect the domestic economy from the excessive drain of scarce materials and to reduce the serious inflationary impact of foreign demand.
Página 81 - ... process and taking possession or making delivery of the commodity. The vast majority of market participants opt for the former, and as a result, futures contracts are primarily used as financial rather than physical management tools. An options contract bestows upon its owner the right, but not the obligation, to buy or sell the underlying futures contract at a specified time and "strike
Página 5 - PREPARED STATEMENT OF HON. TOM BLILEY, CHAIRMAN, COMMITTEE ON COMMERCE Mr. Chairman: Thank you for holding this hearing on global climate change and I commend you for your diligence and perseverance in following this issue.
Página 3 - I will be happy to recognize the distinguished ranking member, the gentleman from Virginia, Mr. Boucher, for an opening statement. Mr. BOUCHER. Thank you very much, Mr. Chairman. I...
Página 66 - The Congress finds that the storage of substantial quantities of petroleum products will diminish the vulnerability of the United States to the effects of a severe energy supply interruption, and provide limited protection from the short-term consequences of interruptions in supplies of petroleum products.
Página 7 - Thank you very much, Mr. Chairman. First I would like to commend the chairman and the committee for taking up this very important problem now.
Página 81 - NYMEX energy futures and options volume grew to more than 89 million contracts in the year 2000 and now includes crude oil, gasoline, natural gas, electricity and propane in addition to heating oil. NYMEX provides the world's most efficient forum for energy price risk management. The visible and highly competitive daily trading of energy futures and options on the exchange provides...
Página 23 - purposes of implementing the Strategic Petroleum Reserve Plan" is to acquire additional crude oil for the Reserve. The exchange solicitations issued by the Department on September 25, and in modified form on October 16, explicitly state that the companies awarded contracts must return more crude oil of comparable or higher quality than they received. Contracts were awarded on the basis of offers that would return the highest value of additional specification-grade crude oil to the Reserve. Therefore,...
Página 81 - exchange.") On behalf of the exchange, I wish to thank you for the opportunity to participate in today's oversight hearings on the Commodity Exchange Act.
Página 84 - CFTC is to ensure the economic utility of futures markets as hedging and price discovery vehicles — encouraging competitiveness, efficiency, and market and trade practice integrity and fairness. The CFTC reviews the terms and conditions of proposed contracts, and oversees registration of firms and individuals who either handle customer funds or give trading advice. It conducts and monitors rule enforcement at US futures exchanges.