Boozman, Cruz, Colleagues Introduce Legislation to Protect America’s Emergency Oil Stockpile
Bill blocks sale of Strategic Petroleum Reserve to China
Jan 26 2023
WASHINGTON—U.S Senator John Boozman (R-AR) joined Senator Ted Cruz (R-TX) and 11 other Republican senators in introducing the Protecting America’s Strategic Petroleum Reserve from China Act. The bill would prohibit the sale of American crude oil from the Strategic Petroleum Reserve (SPR) to any company under the control of the Chinese Communist Party and prohibit the export of any crude oil from the SPR to China.
“America’s energy supply should be used to benefit U.S. consumers and enhance our national security, not exported to Chinese Communists. The Biden administration’s disastrous energy policies have already driven gas prices to historic highs. We need to unleash American energy so we can restock and protect our SPR, help get prices down here at home and ensure we aren’t aiding adversaries at our own security and economic expense,” Boozman said.
“The Strategic Petroleum Reserve was intended to ensure that America had sufficient oil. Instead Joe Biden sold oil to the Chinese Communist Party when the CCP was stockpiling oil for its own strategic use, and while Americans are paying higher and higher prices for fuel because of the Biden administration’s disastrous energy policies. We need to immediately act to stop this from happening in the future enemies and unleash American energy,” Cruz said.
In order to stem rising fuel prices, the Biden administration has released over 250 million barrels of oil from the SPR, which was created to store oil in the event of an emergency or natural disaster disrupting oil and gas production. As a result of the administration’s action, the SPR is at its lowest level since 1986 and Chinese controlled companies have successfully purchased at auction two million barrels, despite having one of the world’s largest stockpiles of oil.
Senators Roger Marshall (R-KS), Kevin Cramer (R-ND), Dan Sullivan (R-AK), Joni Ernst (R-IA), Jerry Moran (R-KS), Mike Braun (R-IN), Rick Scott (R-FL), Cindy Hyde-Smith (R-MS), Tom Cotton (R-AR), Roger Wicker (R-MS) and Tim Scott (R-SC) also cosponsored the Protecting America’s Strategic Petroleum Reserve from China Act.The U.S. House of Representatives recently passed similar legislation by an overwhelming, bipartisan vote of 331-97, with 113 House Democrats voting in support of the bill.