Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Dems join GOP in vote to block Biden from selling strategic oil reserves to China

by January 12, 2023
January 12, 2023
Dems join GOP in vote to block Biden from selling strategic oil reserves to China

Dozens of House Democrats joined Republicans on Thursday to pass legislation that would prevent the Biden administration from selling any more oil from the Strategic Petroleum Reserve (SPR) to China or Chinese-owned companies.

The House easily passed the bill in an 331-97 vote. Every Republican voted for it, and 113 Democrats – more than half of the House Democratic caucus – joined the GOP.

It was the second vote this week that saw large numbers of Democrats help House Republicans pass legislation. Two days earlier, more than two-thirds of House Democrats voted with Republicans to create a committee to address U.S. strategic competition with China.

The bill was brought up by Republicans after the Biden administration’s decision last year to sell nearly 1 million barrels of oil from the SPR to Unipec America, a U.S.-based company owned by China. The Department of Energy announced that sale in April 2022, and Republicans warned on the House floor that it makes no sense to deliver vast energy resources to entities controlled by America’s largest competitor.

‘America’s Strategic Petroleum Reserve is meant for true energy supply disruptions, like those caused by hurricanes and natural disasters, not to help China,’ said Rep. Cathy McMorris Rodgers, R-Wash., who will chair the House Energy and Commerce Committee in the new Congress.

‘Draining our strategic reserves for political purposes and selling portions of it to China is a significant threat to our national security,’ she said. ‘The administration is not just hurting our own ability to respond to emergencies and national security events, they are actively bolstering the oil reserves of our most dangerous geopolitical adversary: the Chinese Communist Party.’

The Biden administration has released more than 200 million barrels from the SPR to ease rising energy prices in the U.S. over the last year, and McMorris Rodgers said those releases were designed to ‘cover up his failed policies driving our energy and inflation crises.’

She added that some of the oil that was not sold directly to Chinese-owned entities ended up in China’s hands.

‘As we know, much of that oil went to China because our refineries and pipelines are full. It now has nowhere to go here,’ she said. ‘Millions more barrels went to overseas traders who eventually sent it to China. We also know that China is ramping up its purchases of crude oil from Russia and the U.S. to boost its own reserves.’

The bill says the Energy secretary shall not sell SPR reserves to any entity under the control of the Chinese government, ‘except on the condition that such petroleum products will not be exports to the People’s Republic of China.’

While most Democrats voted for the bill, the debate featured only Democrats who tried to dismiss it by saying sales to China are the GOP’s fault because congressional Republicans in 2015 lifted the longstanding ban on crude oil.

‘As a result, our exports of crude oil to China surged, averaging a half billion every day during the last year of the Trump administration,’ said Rep. Frank Pallone, D-N.J.

Republicans countered that this policy change happened under the Obama administration, when Republicans were working with that administration to ‘unleash American energy’ and export it around the world. Rep. Brett Guthrie, R-Ky., said that plan continued under President Trump, under which ‘record production’ of energy took place.

However, Guthrie said this has changed under the Biden administration and during the last two years of the Democratic Congress, which have been pushing to reduce energy production even as they support record withdrawals from the SPR.

‘The problem we’re facing today is because of President Biden and the Democrats’ in Congress war on American oil,’ Guthrie said. ‘That’s the problem we’re here to address.’

SPR reserves have remained well above 600 million barrels since the turn of the century, but fell below that level in early 2022 as the Biden administration began selling off reserves. The reserve level fell below 400 million barrels late last year.

Pete Kasperowicz is a politics editor at Fox News Digital.

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Minnesota Legislature holds hearing regarding the legalization of recreational marijuana for adults
next post
New York Democratic Sen. Kirsten Gillibrand kicks off reelection campaign

You may also like

Another Competitor in the Woke Olympics: The National...

November 22, 2022

CNN flash poll shows Trump as clear winner...

June 28, 2024

Southern border hit by more migrant groups, as...

December 21, 2022

Biden’s America: Criminals Disable Entire Fleet Of School...

September 29, 2022

‘IT’S A LITTLE LATE’: Border residents respond to...

January 6, 2023

Echoes of Tiananmen Square: World Looks Away as...

November 30, 2022

Daily Recap 10-24-22: CNN reveals their Trump Derangement...

October 24, 2022

At Least 26 Children Murdered by Security Forces...

October 16, 2022

Pence laments pro-life principles ‘fell short’ at RNC,...

July 23, 2024

Gabbard fires ‘deep state’ heads of National Intelligence...

May 13, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Rescissions: A Small but Welcome Step Toward Spending Discipline

      June 5, 2025
    • DAVID MARCUS: Why Navy ships should not be named for gay rights icons

      June 5, 2025
    • GREGG JARRETT: Biden, the ‘marionette president; and the case of the runaway autopen

      June 5, 2025
    • Trump Practically Bans Travel and Immigration from 12 Countries with Flimsy Security Justifications

      June 5, 2025
    • ‘He’s not a big factor’: Trump’s Senate allies dismiss Elon Musk’s calls to ‘kill the bill’

      June 5, 2025
    • Fears grow that Tata Steel could be excluded from Starmer-Trump trade deal

      June 5, 2025

    Categories

    • Business (8,147)
    • Investing (2,008)
    • Politics (15,523)
    • Stocks (3,127)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved