petroleum products for storage in the reserve

petroleum products for storage in the reserve Sec. 160. (a) The Administrator is authorized, for purposes of implementing the Strategic Petroleum Reserve Plan or the Early Storage Reserve Plan, to place in storage, transport, or exchange— (1) crude oil produced from Federal lands, including crude oil produced from the Naval Petroleum Reserves to the extent that such production is authorized by law; (2) crude oil which the United States is entitled to receive in kind as royalties from production on Federal lands; and (3) petroleum products acquired by purchase, exchange, or otherwise. (b) The Administrator shall, to the greatest extent practicable, acquire petroleum products for the Reserve, including the Early Storage Reserve and the Regional Petroleum Reserve in a manner consonant with the following objectives: (1) minimization of the cost of the Reserve; (2) orderly development of the Naval Petroleum Reserves to the extent authorized by law; (3) minimization of the Nation’s vulnerability to a severe energy supply interruption; (4) minimization of the impact of such acquisition upon supply levels and market forces; and (5) encouragement of competition in the petroleum industry.