Sen. Ted Cruz, R-Texas., launched a invoice Wednesday that will cease the Biden administration from promoting oil from the U.S. Strategic Petroleum Reserve (SPR) to China and Chinese language Communist Occasion (CCP)-owned corporations.
Cruz’s invoice, the Defending America’s Strategic Petroleum Reserve from China Act, was cosponsored by over a dozen Senate Republicans and intently mirrors the invoice handed by the Home this month. The Home invoice handed in an amazing bipartisan vote of 331-97, with 113 Home Democrats voting in favor.
The simple Home vote means the invoice has an opportunity within the Senate if Democratic leaders comply with take it up.
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“The Strategic Petroleum Reserve was meant to make sure that America had enough oil. As an alternative, Joe Biden offered oil to the Chinese language Communist Occasion when the CCP was stockpiling oil for its personal strategic use, and whereas Individuals are paying larger and better costs for gas due to the Biden administration’s disastrous power insurance policies,” Cruz mentioned in a press release.
“We have to instantly act to cease this from occurring sooner or later… and unleash American power,” he mentioned.
Biden first ordered the Division of Power to faucet into the SPR in November 2021, saying it was a “main effort to average the value of oil” and decrease costs on the common “nook fuel station.” After Russia invaded Ukraine final 12 months, Biden introduced a 30-million-barrel launch and one other 180-million-barrel launch in March 2022.
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On account of the administration’s motion, the SPR is at its lowest degree since 1986 and Chinese language-controlled corporations have efficiently bought at public sale two million barrels, regardless of having one of many world’s largest stockpiles of oil.
Cruz’s invoice would ban the sale of American crude oil from the SPR to any firm underneath the management of the CCP, and prohibit the export of any crude oil from the SPR to China.
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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.; Tim Scott, R-S.C.; Josh Hawley, R-Mo.; John Cornyn, R-Texas; and Deb Fischer, R-Neb., cosponsored the invoice.
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