New Gas Reserves Could Mitigate Superstorm Impacts, Markey Says

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Massachusetts U.S. Sen. Ed Markey says new federal gasoline reserves in the Northeast will help prevent fuel shortages in the event of a natural disaster or other catastrophe.

The U.S. Department of Energy on Friday announced it will build two reserves — one near New York Harbor, another near Boston — each capable holding half a million barrels of gas.

Markey says the creation of the reserves is a response to fuel shortages and price spikes following Superstorm Sandy in 2012.

"This gasoline reserve is right up there with sandbags and seawalls in terms of what we need to be ready for supercharged storms from climate change," Markey said during a conference call Friday morning.

The fuel reserves are expected to be available later this year.