Sen. Ted Cruz, R-Texas., introduced a bill Wednesday that would prevent the Biden administration from selling oil from the U.S. Strategic Petroleum Reserve (SRP) to China and Communist Party-owned companies Chinese (CCP).
Cruz’s bill, the Protecting America’s Strategic Petroleum Reserve from China Act, was co-sponsored by more than a dozen Senate Republicans and closely mirrors the bill passed by the House this month. The House bill passed by an overwhelming bipartisan vote of 331 to 97, with 113 House Democrats vote for.
The easy vote in the House means the bill has a chance in the Senate if Democratic leaders agree to pass it.
“The Strategic Petroleum Reserve was intended to ensure that America had enough oil. Instead, Joe Biden sold oil to the Chinese Communist Party when the CCP was storing 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,” Cruz said in a statement.
“We must act immediately to prevent this from happening again in the future…and unleash American energy,” he said.
Biden ordered for the first time the ministry of energy to tap into the SPR in November 2021, saying it was a “major effort to moderate the price of oil” and bring down prices at the average “corner gas station”. After Russia invaded Ukraine last year, Biden announced a release of 30 million barrels and another release of 180 million barrels in March 2022.
As a result of the administration’s action, the SPR is at its lowest level since 1986 and Chinese-controlled companies have successfully auctioned two million barrels, despite having one of the largest oil inventories in the world. world.
Cruz’s bill would prohibit the sale of U.S. SPR crude oil to any company under the control of the Chinese Communist Party and would prohibit the export of any SPR crude oil to China.
Meaning. Roger Marshall, R-Kan., Kevin Cramer. RN.D., Dan Sullivan. R-Alaska, Joni Ernst, R-Iowa., Jerry Moran, R-Kan., John Boozman, R-Ark., Mike Braun, R-Ind., Rick Scott, R-Fla., Cindy Hyde-Smith, R -Miss., Tom Cotton-R-Ark., Roger Wicker, R-Miss., Tim Scott, RS.C., Josh Hawley, R-Mo., John Cornyn, R-Texas, and Deb Fischer, R-Neb ., co-sponsored the bill.