The White House budget proposal would liquidate the U.S. Northeast Gasoline Supply Reserve (NGSR), the roughly one million barrels of gasoline reserves generated in the aftermath of Hurricane Sandy in the fiscal year 2018.
The NGSR was started to reduce the impact of sudden supply interruptions, like the 2012 storm, the second-costliest hurricane in the country's history.
"The NGSR has not been utilized and does not have the operational functionality that was envisioned post-Sandy. ... Because the NGSR's leased commercial storage contracts expire in early FY 2019, DOE proposes to divest the one million barrels of government-owned gasoline blendstock in FY 2018," the budget proposal says.
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