SAVE Act

This bill, called the Save America’s Valuable Energy (SAVE) Act, would stop the Department of Energy from selling oil and other petroleum products from the Strategic Petroleum Reserve to companies based in certain countries. The targeted countries are Russia, Belarus, Burma, China, Cuba, Iran, North Korea, Syria, and Venezuela. It focuses on keeping emergency U.S. oil supplies from going to entities tied to those governments.

Key points:

• Who is affected: The Department of Energy and companies headquartered in Russia, Belarus, Burma, China, Cuba, Iran, North Korea, Syria, or Venezuela.
• What changes: Sales from the Strategic Petroleum Reserve to those companies would be prohibited.