Prohibiting US Strategic Petroleum Reserve sales to entities linked to China.
This bill aims to protect the US Strategic Petroleum Reserve (SPR) by banning the sale of petroleum products to entities controlled by or affiliated with the Chinese Communist Party. This measure ensures that oil reserves intended for US energy security and price stabilization cannot be exported to China. For citizens, the goal is to maintain these reserves for future crises, indirectly supporting stable fuel prices.
Key points
Imposing a complete ban on selling oil from the US Strategic Petroleum Reserve (SPR) to entities under the ownership, control, or influence of the Chinese Communist Party.
Requiring that any sale of petroleum products from the SPR must include a condition that the product will not be exported to the People’s Republic of China.
The goal is to enhance US energy security and protect strategic reserves from being utilized by foreign state-controlled entities.
Expired
Additional Information
Print number: 118_S_9
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2023-01-23