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Eric Doherty's Blog – June 2011 Archive (1)
Emergency Oil Reserves Tapped: Conservation Plan Gathers Dust
by Eric Doherty
Last week a global oil emergency was declared and the response rolled out, but almost nobody noticed. The International Energy Agency (IEA) started tapping into member state’s emergency oil reserves, something that has only happened twice before. While the crisis in Libya has removed only a tiny percentage of world oil supply from the market, about 1.5 million barrels a day, IEA member countries agreed to release 2 million barrels of oil per day from their emergency… Continue
Last week a global oil emergency was declared and the response rolled out, but almost nobody noticed. The International Energy Agency (IEA) started tapping into member state’s emergency oil reserves, something that has only happened twice before. While the crisis in Libya has removed only a tiny percentage of world oil supply from the market, about 1.5 million barrels a day, IEA member countries agreed to release 2 million barrels of oil per day from their emergency… Continue
Added by Eric Doherty on June 30, 2011 at 5:10pm — No Comments
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