Since taking office in January 2021, the Biden Administration has sold at least 2 million barrels of oil from the Strategic Petroleum Reserve (SPR) to UNIPEC… which is a state-controlled China Petrochemical Corporation subsidiary.
Republican lawmakers criticized the administration for this. They believe that selling a key US national security asset to bolster China’s economy is unacceptable.
The White House has defended the deal, stating that it is legally required to sell SPR oil to the highest bidder.
Manchin and Cruz Unveil Joint Bill to Block Sale of US Oil to China by Biden Administration
Senators Joe Manchin (D-WV) and Ted Cruz (R-TX) have joined forces to introduce bipartisan legislation… preventing the Biden Administration from selling American emergency oil reserves to China.
Manchin said on Fox, “This bill would ensure that we are not risking our energy security by selling our petroleum reserves to China. The bipartisan support this legislation. It shows how important it is for America to be energy secure and independent.”
The bill has the support of the following:
- 14 Republicans
- 2 Democrats
- Independent Senators Angus King and Kyrsten Sinema
The SPR is considered a vital aspect of the nation’s infrastructure. It is designed to support the US and its allies in times of crisis, not to aid in enpowering China’s economy.
The legislation would prohibit the Department of Energy (DOE) from selling petroleum products. Especially from the SPR to entities owned or controlled by the Chinese Communist Party. The DOE will only be authorized to sell SPR reserves to such entities… if the products are not exported to China.
Senators Manchin and Cruz, along with the other cosponsors, believe that the SPR should be protected and preserved for the purpose it was established… which is to ensure that the US has sufficient oil reserves in an emergency.
The current SPR level is 371.6 million barrels of oil, the lowest level since 1983. Moreover, it’s nearly 40% lower than before the Biden Administration’s first major release in November 2021.
The introduction of this legislation reinforces the need to secure America’s energy security and independence…
America Needs to Be Mindful of Its Oil Reserves
Introducing a bill that governs the release of oil from America’s SPR is timely. For far too long, the funds have been used for political purposes… rather than to ensure national security and stability during times of crisis.
Recently, Biden dipped into our oil reserves, depleting them to: bring down gas prices and gain political support during the midterm elections.
This is unacceptable, as the strategic oil reserve is meant to be a source of last resort in times of war or other national emergencies.
By introducing a bill that sets clear criteria for when the reserves can be used, we can:
- Prevent the dems from using our oil reserves for political gain
- Ensure that our petroleum is available when America truly needs them
It’s important to remember that the SPR is a component of America’s national security. It should only be used in dire circumstances and never for political purposes.
If we can establish a standard for its use… we can help restore trust in the integrity of the strategic oil reserve and ensure that it is always there when we need it most.
