Industry Urges Congressional Support For The Northeast Gasoline Supply Reserve
On September 14 a joint industry letter was sent to the Senate Appropriations Subcommittee on Energy and Water Development asking them to reconsider closing the 1-million-barrel Northeast Gasoline Supply Reserve (NGSR) in the FY 2024 spending bill. The Department of Energy (DOE) created the NGSR in 2012 following Superstorm Sandy’s catastrophic damage to refineries and terminals in New York harbor. EMA, PPA, and other state petroleum associations urged the Senate Appropriations Committee to reconsider closing the NGSR and increase the Northeast Home Heating Oil Reserve’s (NEHHOR) storage capacity from one million to two million barrels. Both of these emergency reserves were created to buy time for industry to respond to supply disruptions which fuel state and local governments, hospitals and first responders after disaster strikes.
Click here to read the letter.