Definition: Strategic Petroleum Reserves are the world's largest stockpiles of emergency crude oil. The oil is stored in underground salt caverns on the coast of the Gulf of Mexico that can hold over 700 million barrels. The federally-owned reserves can replace about two months worth of imports, should that ever become necessary.
Also Known As: US Oil Reserves, US Petroleum Reserves
Examples: The Strategic Petroleum Reserves were used to replace oil production lost as a result of Hurricane Katrina during the fall of 2005.
