Sponsors (5)
The bill prioritizes national security by restricting SPR sales to prevent benefit to adversaries and accelerating rulemaking, but that protection may reduce federal revenues, constrain market flexibility during emergencies, centralize waiver power, and impose compliance costs.
U.S. consumers, taxpayers, and domestic energy markets: reduces the chance Strategic Petroleum Reserve (SPR) oil is supplied to adversary or hostile governments, preserving emergency reserves for Americans and strengthening U.S. geopolitical leverage.
State governments and energy-sector workers: requires the Secretary to issue an implementing rule within 60 days, providing clearer and faster administrative guidance for SPR management.
Energy market participants and taxpayers: may limit who can buy SPR oil and constrain rapid disposition during emergencies, which could reduce federal sale proceeds and lower market efficiency.
Taxpayers and the public interest: grants broad unilateral waiver authority to the Secretary based on a national security certification, concentrating discretionary power without explicit new oversight or accountability rules.
DOE, private energy companies, and financial institutions: identifying entities owned or controlled by listed foreign states or the Chinese Communist Party could create compliance costs, administrative burdens, and legal disputes.
Based on analysis of 2 sections of legislative text.
Bars export or sale of petroleum products from the U.S. Strategic Petroleum Reserve to China, North Korea, Russia, Iran, or entities they control, unless the Energy Secretary issues a national-security waiver.
Introduced February 4, 2025 by John Karl Fetterman · Last progress February 4, 2025
Prohibits exporting or selling petroleum products drawn from the U.S. Strategic Petroleum Reserve (SPR) to the People’s Republic of China, North Korea, Russia, Iran, or entities they own or control (including entities owned or controlled by the Chinese Communist Party). The Energy Secretary may waive the ban if they certify the sale or export is in the national security interests of the United States, and must issue a rule to implement the prohibition within 60 days of enactment.