For example, if a severe hurricane takes out a lot of the oil refining capacity in the United States, there might be a shortage, and I think that's the justification for [a products reserve]. The countervailing argument for that is that it's harder to store [refined products] underground.
Chu discusses the need for a products reserve due to potential shortages from hurricanes.
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I wonder whether some of these long-term subsidies for energy, whether big oil or big wind, might be better spent for energy research.
I think many of my Republican colleagues see energy research as an appropriate role for the Federal Government.
President Obama has called for increased investments in clean-energy research, development, and deployment.