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Strategic Petroleum Reserve (SPR)

The United States government's emergency stockpile of crude oil, stored in underground caverns, intended to provide security during energy supply disruptions.

Drawdown

The act of withdrawing or releasing petroleum from the Strategic Petroleum Reserve, typically for sale, exchange, or loan, to address supply shortages or price spikes.

Federal lands

Land owned and managed by the U.S. federal government, which can include national forests, parks, wildlife refuges, and other public domains, including submerged lands of the Outer Continental Shelf.

Oil and gas leases

Agreements that grant companies the right to explore for and extract oil and natural gas from specific tracts of land, typically in exchange for rent and royalties.

Outer Continental Shelf (OCS)

Submerged lands seaward of state coastal waters, which are under the jurisdiction of the U.S. federal government and may be leased for resource exploration and production.

Severe energy supply interruption

A serious disruption to the energy supply that poses a severe threat to the national safety or economy, allowing for immediate drawdown of the SPR without prior conditions.