Barrasso Introduces Bill To Block Biden From Selling U.S. Oil Reserves To China

Cowboy State Daily ^ | August 4, 2022 | Clair McFarland

[Hamiltonian]

Wyoming’s senior U.S. Senator last week introduced legislation to keep China out of American oil reserves, days after the U.S. agreed to sell nearly one million barrels of stockpiled oil to China.

Sen. John Barrasso is the lead sponsor on a bill requiring the U.S. Secretary of Energy not to sell oil to America’s geopolitical foes, or to state-owned groups working with those countries.

“The (Energy) Department’s sale of crude oil from the Strategic Petroleum Reserve (SPR) to a company owned by China… is inexcusable,” Barrasso wrote in a July 21 letter to Jennifer Granholm, U.S. Energy Secretary.

The department on July 11 announced it had landed contracts to sell one million barrels from the reserve per day, for six months, in hopes of easing global supply disruptions resulting from the war in Ukraine. One of the companies that landed a contract was Unipec America, which is a branch of China-owned Sinopec. Unipec’s contract is for 950,000 barrels.

[Hamiltonian]

Its amazing that this requires a Congressional intervention.

[crusty old prospector]

950,000 barrels is chicken feed.

[crusty old prospector]

Well, I guess it is more than I thought. We make about 11.5 mmbo per day.

[SERKIT]

Isn't it sad that the Senate needs to tell the President to stop committing treason? The SOR was started to allow for a stockpile of oil for our Navy in case of war. The Navy still depends on oil (and av gas) to defend our nation.

So....here's our inept, compromised, and demented President selling our SOR - in part - to China as we prepare our Navy to fight them in the South China Sea when/if China attacks Taiwan.

BTW, it is apparent and/or a strong possibilty that Hunter (and possibly other pols) makes money on the oil transactions with China.

We are stupid!

[VF-51vnv]

Not for the SPR is NOT.....Google is your friend for search. Worked there..It’s getting close as the days & months go by for drawdown and sales to other peoples.

[Hamiltonian]

Its a piquant blend of chicken feed and horrible optics.

[crusty old prospector]

8% equivalent to our daily production. More than I thought.

[EnderWiggin1970]

As a Wyoming conservative this sort of nonsense aggravates me. It's political theater, nothing more. In a free market if one party doesn't sell to China, another will. If we pass on a deal with China and instead sell to Brazil or to a domestic buyer for example, some other oil seller who would have sold to those parties winds up dealing with China instead.

I want politicians that do meaningful things to uphold American liberty. Not meaningless things. This just wastes time, taxpayer money and falsely gives conservatives the impression we are "doing something." We are not.

[HighSierra5]

They can introduce bills all day long. You need a majority to pass it and a president that won’t veto it. Theater.

[Hamiltonian]

Looks like some people on the Hill are asking the same question specifically involving Sinopec:

House Republicans want answers about oil sale to Hunter Biden-linked China company

[hanamizu]

Nice idea, but sorry it’s a waste of time. Who is going to sign the bill if it passes both houses of Congress? Perhaps the good Senator could devote his efforts to delay or derail the latest boondoggle, you know the ‘Inflation bill’.

[Hamiltonian]

In a free market if one party doesn't sell to China, another will. If we pass on a deal with China and instead sell to Brazil or to a domestic buyer for example, some other oil seller who would have sold to those parties winds up dealing with China instead.

Yes, except that this involves the Strategic Petroleum Reserve.

[Hamiltonian]

Wonder who would vote against the bill going into the election.

[gibsonguy]

DOA

[EnderWiggin1970]

It's still meaningless. A better answer would be to say "the SPR was not meant to be a politician's personal slush fund." It's meant for much more serious and non-partisan conditions. Congress, as the author of all legitimate legislation (Constitution section 1, article 1, paragraph 1, sentence 1) should have defined the legitimate purposes for which the SPR could be tapped and should hold the executive office to account.

But they won't.

[afchief]

With the GOP in the minority NOTHING will come of it.

This illegitimate POS in the White House MUST be removed by force

[Aut Pax Aut Bellum]

Too late.

[353FMG]

But let us not feed China’s chickens.

[SoConPubbie]

A necessary, but, useless exercise.

[NWFree]

“ Its amazing that this requires a Congressional intervention”

Hard to believe it’s not already illegal to sell out America