Washington (Platts)--17Dec2007
A fiscal 2008 catch-all spending bill US congressional appropriators made
public late Sunday would cut funding for the Strategic Petroleum Reserve to
$188.5 million from the $333.5 million the Bush administration had requested.
The money will be used for the reserves' operating and security costs and
includes $25 million for land acquisition for future expansion. Oil is
acquired for SPR through the government's royalty-in-kind program.
Democrats on the House Appropriations Committee said in a statement that
the money cut from the SPR budget had been earmarked for conservation and
alternative fuel programs.
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