Jan 26 2023
WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) joined his colleagues this week in introducing legislation that would prohibit the sale of American crude oil from the Strategic Petroleum Reserve (SPR) to any company under the control of the Chinese Communist Party.
The Protecting America’s Strategic Petroleum Reserve from China Act would also prohibit the export of any crude oil from the SPR to China. The U.S. House of Representatives recently passed similar legislation with overwhelming, bipartisan support.
“After high inflation and crippling energy policies contributed to record-high gas prices, the Biden administration chose to release oil from the nation’s emergency supply,” said Sen. Moran. “Rather than unleashing American energy production, the Biden administration sold American crude oil from the SPR to the Chinese Communist Party. This decision has left our emergency energy supply critically low, risking our national security and aiding the Chinese government.”
In order to stem rising fuel prices, the Biden administration released more than 250 million barrels of oil from the SPR, which was created to store oil in the event of an emergency or natural disaster disrupting oil and gas production. As a result of the administration’s action, the SPR is at its lowest level since 1986, and Chinese-controlled companies have successfully purchased at auction two million barrels, despite having one of the world’s largest stockpiles of oil.
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