Strategic Goal 8: Economic Prosperity and Security - Performance Results for Performance Goal 3
|PERFORMANCE GOAL 3|
Secure and stable financial and energy markets
|I/P #3: SECURE ENERGY SUPPLIES|
Prevent sudden disruptions in the oil market from damaging the world economy by ensuring that the U.S. and other nations maintain their own Strategic Petroleum Reserves.
|FY Results History||2000||Baseline: International Energy Agency (IEA) stock level was 111 days of net oil imports.|
|2001||IEA stock level was 112 days of net oil imports.|
|2003 Results||As of July 1, 2003, emergency reserves of IEA members stood at 116 days of net import coverage. Final data will not be available until sometime in FY 2004.|
|Target||Increase IEA and non-IEA emergency oil stocks above FY 2002 stock levels.|
|Impact||Higher levels of emergency reserves increase the flexibility of the United States and other petroleum importers to respond to disruptions in supply. Discussions continue with non-IEA members, including India and China -- bilaterally and through APEC and the IEA -- on establishing and filling their own strategic petroleum reserves.|
|I/P #4: STABLE FINANCIAL MARKETS|
Prevent financial disruptions from undermining the economic stability of global markets.
|FY Results History||2000||Baseline: 61%|
Successful reforms instituted under IMF programs reduce the risk of future systemic failure in government fiscal and monetary policies, enable debt-burdened countries to return to growth and devote more resources to social needs, and increase likelihood that countries can meet remaining financial obligations.
In FY 2003, the Department,