The Biden administration is draining America’s Strategic Petroleum Reserves (SPR) to cover up the disastrous effects of its anti-American energy agenda. As a result, China—not the U.S.—now has the world’s largest government-controlled stockpile of oil. President Biden is ceding American leadership and geopolitical strength to China and jeopardizing our energy security.
The SPR is only intended to be used for actual oil supply interruptions, such as
when an offshore production platform is shuttered due to a hurricane or a national
security event. The Biden administration sold off 1 million barrels of oil from the
SPR every day beginning in May 2022 until last year’s midterm election to distract
from its disastrous energy policies that discourage American energy production.
To cover up his failed “rush-to-green" agenda, President Biden is depleting the
SPR. He has sold more than 250 million barrels—nearly 40 percent of the
strategic stockpile—while in office. This is more than all the U.S. presidents in
history combined.
Due to the Biden administration’s opposition to oil production, pipelines, and
refining in America, we have fallen behind China, Russia, and other adversaries
when it comes to American energy dominance. Domestic oil production and
refining capacity have both declined by 1 million barrels per day from peak levels
under the prior administration.
Releasing oil from the SPR for politics is not the solution to the energy crisis
Americans are facing. The SPR oil has nowhere to go in the U.S. with our
pipelines and refineries at maximum capacity, so instead, our strategic assets
are being exported to foreign countries, including China.
I am proud that 331 of my colleague voted in support of the Protecting America’s Strategic Petroleum Reserve from China Act this week. This bill will stop the Biden administration from continuing this dangerous practice by preventing the Secretary of Energy from selling any products from the SPR to any entity owned or under the control or influence of the CCP or to any other entity that intends to export the products to China.
Bottom line: We should not be selling our precious SPR to China.
