Kennedy, Cruz introduce bill to block sales of strategic petroleum reserve to foreign enemies
Jul 13 2022
WASHINGTON – Sen. John Kennedy (R-La.) joined Sen. Ted Cruz (R-Texas) in introducing the No Emergency Crude Oil to Foreign Adversaries Act. The legislation would prevent future strategic petroleum reserve (SPR) sales from going to China, Russia, North Korea or Iran.
“America’s strategic petroleum reserve protects our country during national emergencies. Selling off American oil to countries that hate us undermines the security that the oil reserve is supposed to deliver, and we can’t let it happen again,” said Kennedy.
“At a time of skyrocketing inflation and record gas prices, and with SPR drained to its lowest level since 1986, it is reckless and inexplicable that President Biden would allow oil from the Strategic Petroleum Reserve to be exported to China. This practice poses a direct threat to American national security, not least of all because the Chinese Communist Party is currently stockpiling oil for strategic use, and the Biden administration is aiding their effort,” said Cruz.
The bill comes after Pres. Biden siphoned off more than 260 million barrels of oil from America’s SPR in recent months. Reports indicate that roughly 5 million barrels from these SPR sales were sent abroad, with China’s Communist-owned, state-run oil and gas company refining more than 1 million of those barrels.
The No Emergency Crude Oil to Foreign Adversaries Act would:
- Prohibit China, Russia, North Korea and Iran from receiving future SPR exports unless the Secretary of Energy produces a waiver for one of the countries. The Secretary of Energy would only produce a waiver if it was determined that SPR sales abroad would serve America’s national security interests.
- Require the Department of Energy to issue a report to Congress within 180 days after this bill becomes law outlining SPR sales made after Nov. 23, 2021. This report would detail the route oil sales took to their country of destination, who refined the oil and the who owns those refinement facilities.
The text of the bill is available here.