GOP Lawmaker Crafts Perfect Bill
(RepublicanNews.org) – Back in April, the Department of Energy announced that it sold oil barrels from the US Strategic Petroleum Reserve (SPR). While much of the product went to companies like Chevron, Exxon, Marathon, Shell, and Phillips 66, just under 1 million barrels went to Unipec, a trading company of China Petrochemical Corporation, or Sinopec, an entity entirely owned by the Chinese Communist Party (CCP), instead. Senator Ted Cruz (R-TX) is proposing a new bill to stop these highly-controversial transactions.
.@BreitbartNews: Exclusive – Sen. Ted Cruz Proposes Bill to Block Biden Recklessly Selling Strategic Petroleum Reserves to China
— Senator Ted Cruz (@SenTedCruz) July 13, 2022
If passed, the No Emergency Crude Oil for Foreign Adversaries Act (NECOFA) would immediately block the sale of US-based strategic oil reserves to hostile countries.
While Senator Cruz is spearheading the effort, Senators Josh Hawley (R-MO), John Kennedy (R-LA), Marsha Blackburn (R-TN), Roger Marshall (R-KS), James Lankford (R-OK), James Enfoe (R-OK), and Joni Ernst (R-IA) are also contributing. Statements from each leader are available on Cruz’s website.
Cruz noted that Biden selling SPR oil to China directly threatens national security. Kennedy agreed, pointing out that the SPR exists solely to protect Americans during national emergencies. He believes selling America’s reserves to foreign countries undermines that cushion. Blackburn wrote that the president must stop “making deals to prop up the Chinese Communist Party” and put America first.
NECOFA prohibits the US from exporting oil to Russia, China, Iran, and North Korea. It also requires that the DoE disclose the destination of oil exports from recent SPR auctions. However, the bill does permit waivers for national security reasons.
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