The goal of the bill, which is known as the No Emergency Crude Oil to Foreign Adversaries Act, is to stop “selling off American oil to countries that hate us,” according to Kennedy.
To accomplish this, the No Emergency Crude Oil to Foreign Adversaries Act would require countries such as China, Russia, Iran, and North Korea to obtain a waiver from the Secretary of Energy to receive future SPR exports. The waiver is to act as a protective measure to ensure that the foreign sale would serve American interests.
The legislation would also require the Department of Energy to issue a report covering SPR sales made after November 23rd, 2021 to Congress 180 days after the bill is passed.
Also on board with the No Emergency Crude Oil to Foreign Adversaries Act is Sen. Ted Cruz (R-Tx.), who stated that “it is reckless and inexplicable that President Biden would allow oil from the SPR to be exported to China.”
“This practice poses a direct threat to American national security, not least of all because the Chinese Communist Party is currently stockpiling oil for strategic use, and the Biden administration is aiding their effort,” Cruz continued.
The introduction of this bill comes after President Biden’s recent activity of siphoning off roughly 5 million barrels of oil from the SPR to foreign nations, with more than 1 million of those barrels of oil going to China’s Communist-owned oil company.