House votes to block “companies owned or influenced by the Chinese Communist Party” from buying oil from US reserves

Source: SFGate

“The Republican-controlled House on Thursday voted to block oil from the country’s emergency stockpile from going to China. The bill, one of the first introduced by the new GOP majority, would prohibit the Energy Department from selling oil from the Strategic Petroleum Reserve to companies owned or influenced by the Chinese Communist Party. It passed easily, 331-97, with 113 Democrats joining unanimous Republicans in support. Rep. Cathy McMorris, R-Wash., the new head of the House Energy and Commerce Committee, said the bill would help end what she called President Joe Biden’s ‘abuse of our strategic reserves.’ Biden withdrew 180 million barrels from the strategic reserve last year in a bid to halt rising gasoline prices amid production cuts by OPEC and a ban on Russian oil imports following Moscow’s invasion of Ukraine.” (01/12/23)