12/17/2014

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NY is creating gas reserve to prevent shortages

NY is creating gas reserve to prevent shortages
Associated Press photo (Alan Rogers, Star-Tribune).
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NEW YORK (AP) — Gov. Andrew Cuomo says New York is creating the nation's first state gasoline reserve to prevent shortages during emergencies.

Cuomo said Saturday that a pilot program on Long Island will hold 3 million gallons of fuel for motorists and first responders. The project is a response to the gas shortages that created hourslong lines in the days after Superstorm Sandy. Cuomo says New Yorkers need to be able to get around after bad weather.

The reserve will use capacity owned by Northville Industries on Long Island. Cuomo says gasoline from the reserve will be released as needed to meet fuel needs while the industry recovers from an operations disruption, like Sandy.

Northville was chosen for the $10 million pilot program through competitive bidding. The deal requires formal contract approval.
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U.S. consumer prices fell 0.3 percent in November U.S. consumer prices fell 0.3 percent in November