Strategic Production Response Act

Floor Speech

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Ms. HOULAHAN. Mr. Chair, as Congress considers reforms to the Strategic Petroleum Reserve, I rise once again to urge my colleagues to close a dangerous loophole that has existed since 2015, which allows our foreign adversaries to purchase our strategic oil supply.

As the law is currently written, oil from the SPR is sold by the Department of Energy to our highest bidders with little exceptions on what countries can purchase the U.S. supply.

That means that our fiercest adversaries like China and also Russia, Iran, and North Korea and other sanctioned governments can purchase and export our strategic oil.

In fact, Chinese-owned and affiliated companies have won purchase contracts during the past Presidential administrations.

Simply put, this loophole is threatening to our national security. It poses threats to our American families. The American people need to act quickly.

That is why, 2 weeks ago, I reached across the aisle to reintroduce a bill that my colleague, Representative Don Bacon, and I have that addresses this issue.

It is called the Banning Oil Exports to Foreign Adversaries Act. This bill is straightforward, and it is common sense. It prohibits the export or sale of the SPR to China, North Korea, Russia, Iran, and any country currently under U.S. sanctions.

Last week, my colleagues and I voted to pass a bill through the House that would prohibit the sale of our reserve to China, but that legislation does not go far enough.

Do we want North Korea buying oil? How about Iran or Russia?

It is clear that this bill remains the most comprehensive and bipartisan policy that has been put forward, and it now has more than 60 bipartisan cosponsors.

As a veteran and one of the most bipartisan Members of this body, my position remains clear: We need to put our national security over party politics. We have to ensure that our foreign adversaries are not allowed to profit at the expense of America and our safety and security.

I thank Mr. Gottheimer for his support for this legislation as an original cosponsor. This amendment we are speaking of right now reflects the fact that Congress has so much more work to do to close this loophole.

I urge our colleagues, Republicans and Democrats alike, to support the bipartisan Banning Oil Exports to Foreign Adversaries Act.

Let's send this legislation through in proper order, strengthen it, and work together to get it signed into law.

Once again, I thank Mr. Gottheimer for his commitment to this cause.

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