Strategic Petroleum Reserve No Longer Key Part Of U.S. National Security

The U.S. Strategic Petroleum Reserve (SPR), once seen as a cornerstone of America’s energy security, is losing its shine in Washington.

The SPR was established in the aftermath of the 1973-1974 oil embargo, which led to high gasoline prices, fuel rationing, price controls, and long lines at gas stations. The U.S. government decided to stockpile oil in salt caverns in Texas and Louisiana, fuel that could be used in the event of a supply outage. Today, the SPR holds 695 million barrels of oil.

U.S., Russia: The Case for Bilateral Talks

Phone calls between relatively low-level diplomats are normally not newsworthy. But Monday's conversation between U.S. Undersecretary of State Victoria Nuland and Russian Deputy Foreign Minister Grigory Karasin on the simmering conflict in Ukraine is an exception. The bilateral nature of the conversation and its timing amid mounting claims of cease-fire violations from the Ukrainian government and separatist forces makes it uniquely significant. Moreover, it reaffirms that the evolution of the Ukrainian conflict — whether toward a settlement or toward escalation — will be most strongly shaped not by Kiev but by the actions of and relationship between Moscow and Washington.