Cruz & Fellow Senators Introduce Legislation to Stop Biden's Sale of U.S. Oil Reserves to China

“The Strategic Petroleum Reserve was intended to ensure America had sufficient oil – instead Joe Biden sold oil to the Chinese Communist Party when the CCP was stockpiling oil for its own strategic use."

Texas Insider Report: (WASHINGTON, D.C.) – “The Strategic Petroleum Reserve was intended to ensure that America had sufficient oil. Instead Joe Biden sold oil to the Chinese Communist Party when the CCP was stockpiling oil for its own strategic use," said U.S. Senator Ted Cruz (R-Texas) earlier today while introducing the "Protecting America’s Strategic Petroleum Reserve from China Act" to 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.
 

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  • "Energy security is national security, and the SPRA is the first step in strengthening our Nation's energy independence and ensuring our national security is not at risk."

Cruz was joined by the following Senators in the effort who co-sponsored his legislation. Senators:
 

• John Boozman (R-Ark.)
• Mike Braun (R-Ind.)
• Tom Cotton (R-Ark.)
• Kevin Cramer (R-N.D.)
• Joni Ernst (R-Iowa)
• Cindy Hyde-Smith (R-Miss.)
• Roger Marshall (R-Kan.)
• Jerry Moran (R-Kan.)
• Rick Scott (R-Fla.)
• Tim Scott (R-S.C.)
• Dan Sullivan (R-Alaska), and
• Roger Wicker (R-Miss.)

 

• Read the legislation here.

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.

Said Sen. Cruz about the bill:

"We need to immediately act to stop this from happening in the future enemies – and unleash American energy," said Cruz.