S.393 - Banning SPR Oil Exports to Foreign Adversaries Act (119th Congress)
Summary
S.393, the "Banning SPR Oil Exports to Foreign Adversaries Act," aims to amend the Energy Policy and Conservation Act. It seeks to prohibit the export or sale of petroleum products from the Strategic Petroleum Reserve (SPR) to specific entities. These entities include the People's Republic of China, Democratic People's Republic of Korea, Russian Federation, Islamic Republic of Iran, and any entity under their ownership or control, including the Chinese Communist Party.
The bill allows the Secretary to issue waivers if the export or sale is in the national security interests of the United States. It also mandates the Secretary to issue a rule to carry out the provisions of the Act within 60 days of enactment. The bill has bipartisan support, being introduced by Senators Fetterman and Cruz, and Representative Slotkin.
Expected Effects
The primary effect of this bill would be to restrict the flow of SPR oil to countries considered foreign adversaries. This could potentially impact global oil markets and the energy security of those nations. It would also give the Secretary of Energy more direct control over SPR oil exports, with the ability to grant waivers based on national security interests.
Potential Benefits
- Enhanced national security by preventing adversaries from accessing US strategic oil reserves.
- Reduced risk of dependence on adversarial nations for energy resources.
- Potential for increased domestic energy production and job creation.
- Strengthened US leverage in international energy markets.
- Protection of US economic interests by limiting adversaries' access to subsidized oil.
Potential Disadvantages
- Potential for retaliatory actions from affected countries.
- Possible disruptions to global oil markets and price volatility.
- Limited flexibility in responding to global energy crises.
- Increased administrative burden on the Secretary of Energy.
- Risk of unintended consequences due to market distortions.
Constitutional Alignment
The bill appears to align with the constitutional powers of Congress to regulate commerce with foreign nations (Article I, Section 8, Clause 3) and to provide for the common defense (Article I, Section 8, Clause 1). The power to control the disposition of the Strategic Petroleum Reserve falls under these broad constitutional mandates. The waiver provision allows for executive flexibility, which is consistent with the President's role in foreign policy and national security.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).