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Home » Economics » Protecting U.S. Crude Oil Reserves From Foreign Adversaries – Texas Border Business

Protecting U.S. Crude Oil Reserves From Foreign Adversaries – Texas Border Business

07/02/2023 23:11:13
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US Senator Ted Cruz (R-Texas) reintroduced the Law prohibiting emergency crude oil for foreign adversaries to ensure that crude oil from the Strategic Petroleum Reserve (SPR) is not exported to countries adversary to the United States. Image source: Facebook for illustrative purposes

Texas Border Affairs

WASHINGTON DC – US Senator Ted Cruz (R-Texas) reintroduced the Law prohibiting emergency crude oil for foreign adversaries to ensure that crude oil from the Strategic Petroleum Reserve (SPR) is not exported to countries adversary to the United States. Forty-eight years ago to the day, the bill to create the American SPR was introduced in the Senate.

Senator Cruz previously introduced this bill in July 2022.

Of the bill, Senator Cruz said:

“The Strategic Petroleum Reserve was intended to ensure that America had sufficient oil reserves in case of an emergency. Instead, Joe Biden sold some of this vital national security asset to the Chinese Communist Party while the CCP hoards oil for its own strategic use, and while Americans pay ever-higher prices for it. fuel due to the Biden administration’s disastrous energy policies. The No Emergency Crude Oil for Foreign Adversaries Act would ensure this never happens again, prohibiting sales of SPR to China, North Korea, Iran and Russia, to ensure that our oil reserves energy are used for their true purpose: to help Americans.

Read the full text here.

BACKGROUND:

  • Senator Cruz led the fight against Russia’s dominance of European energy, most notably Putin’s Nord Stream 2 gas pipeline. He secured passage of the sanctions that shut down the pipeline under the Trump administration and a second bill expanding the sanctions. He led the battle to force the Biden administration to impose its sanctions by shutting down the pipeline.
  • Senator Cruz uses the annual National Defense Appropriations process year after year to include dozens of reforms and amendments supporting the United States Armed Forces in their fight for freedom. His amendments spent $158 million on military construction projects in Texas, fought Chinese infiltration of American universities, banned China and included Taiwan in Pacific military exercises, protected Europe’s energy security from Russian aggression and supported space missile interception efforts to better protect the United States.





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