Energy Secretary Moniz Testifies To Senate Hearing On Modernizing The Strategic Petroleum Reserve

WASHINGTON, DC - OCTOBER 06: Senate Energy and Natural Resources Committee member Sen. Rob Portman (R-OH) arrives for a hearing about the potential modernization of the Strategic Petroleum Reserve in the Dirksen Senate Office Building on Capitol Hill October 6, 2015 in Washington, DC. Created in the wake of the 1973 energy crisis, the reserve is supposed to make sure the U.S. economy will not be hurt by an embargo or sharp price spike and Energy Secretary Ernest Moniz estimates that $2 billion will be needed for distribution work and other technical upgrades. (Photo by Chip Somodevilla/Getty Images)