Full Article: PDF
Scientific Object Identifier: http://s-o-i.org/1.1/TAS-05-157-15
DOI: https://dx.doi.org/10.15863/TAS.2026.05.157.15
Language: English
Citation: Pantsulaia, Z. (2026). The Role of Strategic Oil Reserves in the Global Economy. ISJ Theoretical & Applied Science, 05 (157), 301-305. Soi: https://s-o-i.org/1.1/TAS-05-157-15 Doi: https://dx.doi.org/10.15863/TAS.2026.05.157.15 |
Pages: 301-305
Published: 30.05.2026
Abstract: The article provides a detailed discussion of the four main models for establishing oil reserves: state-owned, hybrid, delegated, and specific models: ? United States (State-Owned Model): The U.S. Strategic Petroleum Reserve (SPR) is entirely state-owned and stored in salt domes along the Gulf of Mexico, which ensures cost-efficiency and security in storage. ? European Union and Japan (Hybrid Model): The European model combines government-held reserves with obligations imposed on private companies. Japan, which is almost 100% dependent on imports, uses a three-tier system (government, private, and joint reserves with producer countries), giving it reserves equivalent to more than 200 days of consumption. ? United Kingdom (Delegated Model): In this model, the government does not directly own the oil, but instead places the obligation on the private sector, reducing budgetary expenditures. ? Russia and China (Specific Models): Russia’s model is mobilization-oriented, focused on military readiness and control of the domestic market. China, on the other hand, uses state capitalism and “market opportunism” — filling its reserves when prices are low.
Key words: strategic oil reserve, state reserve, reserves, strategic stockpiles.
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