Lawmakers Reintroduce Bill to Bar Export of Reserve Oil to China, Other 'Adversaries'
A bipartisan, bicameral group of lawmakers reintroduced a bill Feb. 4 that would prohibit the sale of oil from the U.S. Strategic Petroleum Reserve to “foreign adversaries,” namely China, Iran, North Korea and Russia.
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Sens. John Fetterman, D-Pa., Elissa Slotkin, D-Mich., and Ted Cruz, R-Texas, offered the Banning Strategic Petroleum Reserve Oil Exports to Foreign Adversaries Act in the Senate. Reps. Chrissy Houlahan, D-Pa., Don Bacon, R-Neb., and Jay Obernolte, R-Calif., followed suit in the House.
“When I heard there was a loophole enabling our foreign adversaries to purchase oil from our strategic reserves, I was shocked and outraged,” Houlahan said. “When gas prices rise, releases from the strategic reserve are meant to ease the financial burden for working families -- not potentially end up in the hands of those who wish our service members, country and NATO allies harm. Closing this loophole requires a congressional fix.”
The bill was referred to the Senate Energy and Natural Resources Committee and the House Energy and Commerce Committee. Fetterman first introduced the bill in March 2024 during the previous Congress (see 2403220039).