What is a strategic oil reserve? Does Canada have one?
AI Briefing
- A strategic oil reserve is a stockpile of oil held by a country to stabilize global energy markets and ensure energy security in times of crisis.
- Canada does not have a single, unified strategic oil reserve, but rather a network of storage facilities across the country managed by the Canadian Strategic Stockpile (CSS) and provincial and territorial authorities.
- The CSS holds approximately 20 million barrels of oil, which can be released to support Canada's energy needs during times of supply disruptions.
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