Conaway Cosponsors Legislation to Offset Oil Surplus

Statement

Tuesday, Representative Mike Conaway (TX-11) cosponsored bipartisan, bicameral legislation to provide $3 billion in funding to purchase crude oil produced in the United States for the Strategic Petroleum Reserve (SPR), fulfilling President Trump and Secretary of Energy Brouillette's March request.

"West Texas' oil producers are weathering the most drastic drop in oil prices we have ever seen. An oil-price war between Russia and Saudi Arabia coupled with the disastrous market effects of COVID-19 have left thousands of our friends and neighbors jobless, businesses shuttered, and our entire way of life threatened like never before," said Rep. Mike Conaway. "Filling the Strategic Petroleum Reserve is one step we can take toward providing critical supply relief to American producers. This funding should have been included in previous COVID-19 relief legislation as President Trump requested in March, but Speaker Pelosi was unsurprisingly far more concerned with advancing ultra-liberal policies than protecting American energy workers. Our producers are in the fight of their lives to continue providing the fuel to power America. It is absolutely urgent for Congress to pass this legislation now."

On April 7th, Rep. Conaway led a letter to House Leadership requesting funding for the Department of Energy to fill the Strategic Petroleum Reserve.

This legislation was introduced by Representatives Lizzie Fletcher (TX-07) and Michael Burgess (TX-26). Additional cosponsors include Representatives Henry Cuellar (TX-28), Kelly Armstrong (ND-AL), Kendra Horn (OK-5), Roger Williams (TX-25), Vicente Gonzalez (TX-15), Marc Veasey (TX-11), and Bill Flores (TX-17). Senator John Hoeven (R-ND) will introduce the Senate companion of this legislation.

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