As conflict chokes off oil exports from the Persian Gulf, governments around the world have a critical line of defense against price shocks: emergency stockpiles such as the US Strategic Petroleum Reserve, or SPR, created in the 1970s as a safety net against energy crises. Oil and gasoline price spikes prompted by the war with Iran have created pressure on President
How big are emergency oil stockpiles?
The 32 countries that belong to the International Energy Agency collectively have at least 1.2 billion barrels of oil put aside in ...