U.S. Senator Ted Cruz (R-Texas), along with Sens. Roger Marshall (R-Kan.), Kevin Cramer (R-N.D.), Dan Sullivan (R-Alaska), Joni Ernst (R-Iowa), Jerry Moran (R-Kan.), John Boozman (R-Ark.), Mike Braun (R-Ind.), Rick Scott (R-Fla.), Cindy Hyde-Smith (R-Miss.), Tom Cotton (R-Ark.), Roger Wicker (R-Miss.), and Tim Scott (R-S.C.) today introduced the Protecting America’s Strategic Petroleum Reserve from China Act. This bill 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, and prohibit the export of any crude oil from the SPR to China. The U.S. House of Representatives recently passed similar legislation by an overwhelming, bipartisan vote of 331-97, with 113 House Democrats voting in support of the bill.
In order to stem rising fuel prices, the Biden administration has released over 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.
About the bill, Sen. Cruz said:
“The Strategic Petroleum Reserve was intended to ensure that America had sufficient oil reserves in the event of an emergency. Instead, Joe Biden sold a portion of this critical national security asset to the Chinese Communist Party when the CCP was stockpiling oil for its own strategic use, and while Americans are paying higher and higher prices for fuel because of the Biden administration’s disastrous energy policies. We need to immediately act to stop this from happening in the future and unleash American energy.”