On Wednesday, House Republicans passed a bill that would limit the U.S. Strategic Petroleum Reserve (SPR) from being used to move oil around the country. The bill, which was passed by a vote of 224-189, would restrict the use of the SPR to only be used in cases of emergency or national security.
The SPR is a stockpile of oil that is maintained by the U.S. Department of Energy and is used to help stabilize the oil market in times of emergency. The SPR is currently made up of more than 700 million barrels of oil and is located in underground salt caverns along the Gulf Coast.
The bill was introduced by Rep. Bill Flores (R-Texas) and is intended to prevent the Obama administration from using the SPR to manipulate the oil market. The bill would also require the Energy Department to report to Congress on any SPR sales or exchanges.
The bill has been criticized by Democrats, who argue that it is an attempt to limit the President’s ability to respond to market conditions. They have also argued that the bill is unnecessary, as the Energy Department has not used the SPR to manipulate the market since the 1970s.
Despite the criticism, the bill has been supported by many Republicans, who argue that it is necessary to prevent the Obama administration from using the SPR to manipulate the oil market. They also argue that the bill will help protect the SPR from being used for political purposes.
The bill now heads to the Senate, where it is expected to pass. If it is passed by the Senate and signed into law, it would be the first time in more than 40 years that the SPR has been restricted from being used to move oil around the country.
