Ted Cruz and Joe Manchin Press on Blocking US Oil Reserve Exports to China
- Posted on February 3, 2023
- News
- By Akta Yadav
- 232 Views
Ted Cruz and Joe:-
Joe Manchin, Chairman of the US Senate Energy and Natural Resources Committee has expressed his concerns over use of the US oil reserves for export to China. His views are also backed by Ted Cruz, another notable Senator. Both of them are spearheading the mission of initiating bipartisan legislation by virtue of which sale of the US oil reserves to China by the Joe Biden- leg government would be prohibited.
Ted Cruz and Joe
Significance of The US Oil Reserves
Ted Cruz said, “The Strategic Petroleum Reserve was intended to ensure that America had sufficient oil reserves in the event of an emergency. Under no circumstances should we sell any part of this stockpile to the China’s Communist Party or any company under its control.” A similar opinion has been expressed by Manchin according to whom the oil reserves are a valuable asset for the nation and the purpose behind the reserves is to ensure that the US remains self- dependent in terms of energy. Ted Cruz has also pointed out that given the ongoing Russia- Ukraine crisis, the oil reserves act as a strength for policy makers in order to control rising oil prices and prevent China from emerging as a global power.
Implications of The Bipartisan Legislation Led by Ted Cruz and Joe Manchin
This bipartisan legislation is similar to the Protecting America’s Strategic Petroleum Reserve from China Act, which had been passed by a vast unanimous majority during the previous month. With the new enactment, the US Department of Energy would be banned from drawing the Strategic Petroleum Reserve (SPR) for the purpose of sale to China or companies owned by China.
Ted Cruz and Joe
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