Released: Filed Under: NCFCA Policy
The federal Strategic Petroleum Reserve (SPR) was created in the 1970s after the supply shocks caused by the oil embargo (1973-74) and other market disruptions in that era. It consists of giant underground salt caverns with millions of barrels of crude oil that can be released by the President in case of a supply disruption. This reserve, however, is unnecessary – the private market could solve for a disruption without the SPR – and a government reserve makes disruptions worse by removing the incentive for private markets to solve. The reserve is costly to taxpayers and polluted with dangerous gas. Its very existence creates an incentive for politicians to manipulate oil markets for short-term political gain, at long-term economic cost to the public. This case argues that the SPR does more harm than good and should be abolished.
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Luke has competed in speech and debate for four years. He has consistently advanced to outrounds in both speech and debate the last two years. Researching and writing cases are some of his favorite parts of debate.