The Northeast Home Heating Oil Reserve was created in July 2000 to provide a reserve of heating oil for the approximately 5.3 million households in the Northeast region of the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
that use heating oil for their homes.
History
On July 10, 2000,
President of the United States
The president of the United States (POTUS) is the head of state and head of government of the United States of America. The president directs the executive branch of the federal government and is the commander-in-chief of the United States ...
Bill Clinton
William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician who served as the 42nd president of the United States from 1993 to 2001. He previously served as governor of Arkansas from 1979 to 1981 and agai ...
directed Energy Secretary
Bill Richardson
William Blaine Richardson III (born November 15, 1947) is an American politician, author, and diplomat who served as the 30th governor of New Mexico from 2003 to 2011. He was also the U.S. Ambassador to the United Nations and Energy Secretary ...
to establish a home
heating oil component of the
Strategic Petroleum Reserve in the Northeast. The intent was to create a buffer large enough to allow commercial companies to compensate for interruptions in supply or severe winter weather, but not so large as to dissuade suppliers from responding to increasing prices as a sign that more supply is needed.
The reserve was opened for the first time in November 2012. were made available to local and Federal agencies for relief efforts in the wake of
Hurricane Sandy
Hurricane Sandy (unofficially referred to as ''Superstorm Sandy'') was an extremely destructive and strong Atlantic hurricane, as well as the largest Atlantic hurricane on record as measured by diameter, with tropical-storm-force winds spann ...
.
Facilities
*
Amerada Hess Corp., Perth Amboy (near
Woodbridge, New Jersey
Woodbridge Township is a township in Middlesex County, in the U.S. state of New Jersey. The township is both a regional hub for Central New Jersey and a major bedroom suburb of New York City in the New York metropolitan area located within the ...
). Capacity 965,000 barrels
*Amerada Hess Corp.,
Groton, Connecticut
Groton is a town in New London County, Connecticut located on the Thames River. It is the home of General Dynamics Electric Boat, which is the major contractor for submarine work for the United States Navy. The Naval Submarine Base New London i ...
. Capacity 250,000 barrels
*
Morgan Stanley
Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...
,
New Haven, Connecticut
New Haven is a city in the U.S. state of Connecticut. It is located on New Haven Harbor on the northern shore of Long Island Sound in New Haven County, Connecticut and is part of the New York City metropolitan area. With a population of 134 ...
. Capacity 750,000 barrels
See also
*
Energy security
Energy security is the association between national security and the availability of natural resources for energy consumption. Access to (relatively) cheap energy has become essential to the functioning of modern economies. However, the uneven d ...
*
Strategic reserve
A strategic reserve is the reserve of a commodity or items that is held back from normal use by governments, organisations, or businesses in pursuance of a particular strategy or to cope with unexpected events.
A document issued by the US Departm ...
References
Petroleum in the United States
Energy policy of the United States
United States Department of Energy facilities
Strategic reserves of the United States
Heating oil
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