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1. OIL:

DOE sets out to 'right-size' archaic Strategic Petroleum Reserve

FREEPORT, Texas -- From the air and on-site, the Bryan Mound federal government storage site here looks little different from other oil and gas industrial facilities. A couple of storage tanks rest next to pipes and pumps, all of it surrounded in part by two dozen old well pad sites with operating wells. But beneath each one of these 20 pad sites, about 1,000 feet down, sits an artificial cavern much larger than the volume of the Empire State Building carved out of the rock and filled with millions of barrels of oil.

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