As Biden cuts into our petroleum reserves, the last thing we need is to be sending oil to the CCP.

From Fox Business. The House on Thursday passed a bill to ban the sale of oil released from the Strategic Petroleum Reserve (SPR) to China as the chamber capped off its first full week of legislative business in the new Congress.

View Comments (4)

Pray for your fellow intercessor.

The one-page bill, known as the Protecting America’s Strategic Petroleum Reserve from China Act, would prohibit the Dept. of Energy from drawing down the SPR to sell that oil to any entity under the ownership, control, or influence of the Chinese Communist Party, and also bar the export of oil released from the SPR to China. It was introduced by Rep. Cathy McMorris Rodgers (R-Wash.), who will chair the powerful House Energy and Commerce Committee in the 118th Congress. …

The House passed the bill Thursday on a broadly bipartisan vote of 331-97, with Republicans unanimously supporting the bill and a majority of Democrats in favor. Most of the Democratic lawmakers opposed to the measure argued it should be broadened to include countries like North Korea and Russia. It now heads to the Senate where it faces an uncertain fate. …

In April 2022, the Dept. of Energy sold nearly one million barrels of oil from the SPR that were then valued at nearly $100 million to Unipec, which is a subsidiary of Sinopec, an energy conglomerate that’s wholly owned by the People’s Republic of China. …

Aside from oil sold in the course of SPR drawdowns, China has purchased substantial amounts of oil from American energy companies in recent years as the U.S. increased domestic production and became a net exporter. In all of 2020, the U.S. exported 176 million barrels of oil to China. Last year through October, U.S. firms shipped nearly 67 million barrels of oil to China. …

What is the Strategic Petroleum Reserve?

The SPR was created in 1975 by the Dept. of Energy (DOE) as a means of stockpiling petroleum supplies for emergency use to mitigate the impact of supply disruptions on U.S. energy markets in the wake of the OPEC oil embargo of 1973-74. Reserves can be released based on a finding by the president that there is a supply disruption, or if needed to fulfill U.S. obligations under international energy programs. Occasionally, Congress will authorize the sale of some SPR reserves to finance legislative priorities. …

How are you praying over this bill? Share this article to encourage others to pray.

(Excerpt from Fox Business. Photo Credit: Canva)