Tens of millions of barrels of crude oil were released from the Strategic Petroleum Reserve in 2022 by President Joe Biden (SPR). Some of that oil was sold on the world market, making it available for purchase by other nations. China was one of the nations that seized the chance. A bill prohibiting future purchases of SPR oil by the communist state has now been approved by lawmakers.
On January 12, the Protecting America’s Strategic Petroleum Reserve from China Act was approved by the House of Representatives (HR22). The bill was introduced by Rep. Cathy McMorris Rodgers (R-WA). It would stop SPR oil from being sold and exported to the totalitarian nation. The majority of lawmakers (331-97) decided to restrict China’s capacity to buy oil reserves. The only votes against came from Democrats.
We’ve said it before, and we’ll say it again: Energy security IS national security.— House Republicans (@HouseGOP) January 12, 2023
That’s why House Republicans passed the Protecting America’s Strategic Petroleum Reserve from China Act. pic.twitter.com/2ipCkCsNw3
In response to the Arab oil embargo, which had a disastrous impact on the US economy, the US government established the SPR in 1975. Administrators use it because it is the greatest crude oil reserve to prevent supply chain snarls. America is required by international energy agreements to discharge crude oil and its byproducts.
Congress removed the 40-year ban on oil exports in 2015, enabling for the selling of oil on the world market. That paved the way for what is taking place right now, but HR22 would close the gap that lets the Chinese government take advantage of the oil sales.
Rep. McMorris Rodgers argued that the US shouldn’t give the Chinese Communist Party control of the nation’s energy future. She additionally charged Biden of misusing the nation’s strategic reserves.
The bill was sent to the Senate despite being approved by the House. As the majority party in the upper chamber, Majority Leader Chuck Schumer (D-NY) and his group will decide whether or not the bill passes. It’s uncertain if the senators will vote in favor of the legislation, as more than 100 of their Democratic House counterparts did.