House passes bill co-sponsored by Chavez-DeRemer to protect emergency oil stockpile
WASHINGTON (KTVZ) -- Rep. Lori Chavez-DeRemer, R-Ore., voted Friday in favor of the Strategic Production Response Act, which requires the federal government to develop a plan for replacing oil drained from the Strategic Petroleum Reserve for non-emergency purposes.
Chavez-DeRemer is a co-sponsor of the legislation, which passed the House Friday.
She issued this statement:
“The Strategic Petroleum Reserve, which is a valuable national security asset intended for emergencies, has been drained by almost 40 percent to its lowest level in four decades. It has been the single largest drawdown of the reserve in U.S. history – all because poor energy policies diminished our energy independence and caused gas prices to soar.
“It’s clear that Congress needs to act – it’s what Oregonians expect. Failing to do so leaves us vulnerable to natural disasters and other national security emergencies in the future. We have to be prepared.
“The Strategic Production Response Act establishes commonsense parameters for tapping our emergency reserves, supports domestic energy production, and protects our energy security. I was proud to help lead this important legislation and am glad it passed the House today,” Chavez-DeRemer said.
Chavez-DeRemer joined Majority Leader Steve Scalise (LA-01) and Republican Conference Chairwoman Elise Stefanik (NY-21) at Wednesday’s leadership press conference to discuss the bill.
Background
The SPR has been drained to its lowest level since 1984. Following the release of 180 million barrels of oil last year, the SPR was depleted by a total of nearly 40 percent. Instead of being utilized for domestic purposes, millions of barrels from the emergency reserve ended up being exported to Europe and Asia, including China.
The Strategic Production Response Act would require any future non-emergency SPR releases to be accompanied by a plan from the Department of Energy to increase domestic energy production.
Earlier this month, Chavez-DeRemer also supported the Protecting America’s Strategic Petroleum Reserve from China Act, which bans SPR exports to China.
