Saturday, March 25, 2023
  • About
  • Privacy Policy
  • Editorial Principles
  • Why to trust us
  • Contact
Scoop Nova
  • Home
  • Business
  • Technology
  • Scandals
  • Politics
Scoop Nova
  • Home
  • Business
  • Technology
  • Scandals
  • Politics
No Result
View All Result
Scoop Nova
Home Politics

House Republicans pass bill to limit Strategic Petroleum Reserve moves

admin by admin
January 29, 2023
in Politics
0
House Republicans pass bill to limit Strategic Petroleum Reserve moves
587
SHARES
3.3k
VIEWS
Share on FacebookShare on Twitter

You might also like

New Jersey deli fraud defendant renounced U.S. citizenship

Manhattan D.A. says his office will not tolerate threats to the rule of law after Trump calls on supporters to protest

Trump will surrender to face charges if indicted, defense lawyer says

A maze of crude oil pipes and equipment is seen against a background of American and Texas flags at the Strategic Oil Reserve in Freeport, Texas.

Richard Carson | Reuters

WASHINGTON—The U.S. House of Representatives on Friday passed a bill aimed at limiting the president’s ability to withdraw the country’s strategic oil reserves for reasons other than “serious energy supply disruptions.”

The law is meant to prevent presidential reenactments Joe Biden’s Republicans claim numerous withdrawals from the 2022 SPR were intended to lower consumer gas prices ahead of the midterm elections.

The bill passed in a near intra-party vote of 221 to 205 after more than six hours of separate House votes on various amendments.

Entitled the Strategic Production Response Act, passed on Friday, the law sets out a plan for federal agencies to lease federal land for oil and gas production “at the same rate as oil.” bans new drawdowns of the SPR until the

Despite passing the House, the bill is almost certain to pass. It lacks the support to pass it through the Democratic-controlled Senate, and the White House says it will reject Biden if he gets to his desk.

Days before the vote, Energy Secretary Jennifer Granholm told a White House press conference that the bill “would impose unnecessary and useless restrictions on when SPR can be used to support supplies.” said.

“It will not bring measurable benefits to the American people,” Granholm told reporters. “Instead, it hinders our ability to respond in the event of an international emergency (such as natural disasters or domestic pipeline outages).”

The White House has long argued that its release from the SPR last year was necessary to offset the spike in pump prices caused by Russia’s invasion of Ukraine.

But Republicans countered that the overall size of the 2022 release of 180 million barrels was excessive, and that individual releases and announcements about future releases were tailored to maximize political gain for Democrats. are doing.

Last year, total oil reserves shrunk to about 380 million barrels, the lowest since 1984. It raises concerns about energy security.

When Biden took office in 2021, the SPR included 638 million barrels.

Friday’s bill was the second time the Republican-controlled House has passed legislation related to the SPR. The first prohibited the sale of oil reserves to Russia, China, Iran and North Korea. Passed with bipartisan support.

Following Friday’s passage, the bill’s main sponsor, House Energy and Commerce Committee Chair Kathy McMorris Rogers, applauded the vote.

“President Biden has turned a long-standing bipartisan strategic asset, the Strategic Oil Reserve, into a political tool to conceal the consequences of a costly environmental haste agenda,” she said in a statement. .

The Act “provides a path to making energy more affordable and reliable for Americans by preserving the SPR’s important and core purpose: the energy that Americans need in a true emergency.” It’s about providing oil supplies to the US, not draining them for non-emergency political purposes,” she added. .

Tags: BillBreaking News: PoliticsBusiness newseconomyHouseJoe BidenlimitMarketmeetingmovesOil and gaspassPetroleumpoliticsRepublicansReservestrategicWashingtonWhite House
Previous Post

China looks past Covid as tourist bookings surge for the Lunar New Year

Next Post

Sam Bankman-Fried tried to influence witness through Signal: DOJ

admin

admin

Related Posts

New Jersey deli fraud defendant renounced U.S. citizenship
Politics

New Jersey deli fraud defendant renounced U.S. citizenship

by admin
March 24, 2023
Manhattan D.A. says his office will not tolerate threats to the rule of law after Trump calls on supporters to protest
Politics

Manhattan D.A. says his office will not tolerate threats to the rule of law after Trump calls on supporters to protest

by admin
March 20, 2023
Trump will surrender to face charges if indicted, defense lawyer says
Politics

Trump will surrender to face charges if indicted, defense lawyer says

by admin
March 18, 2023
Steven Bannon associate Guo Wengui charged with fraud
Politics

Steven Bannon associate Guo Wengui charged with fraud

by admin
March 16, 2023
Trump could face criminal charges in New York over porn star payment
Politics

Trump could face criminal charges in New York over porn star payment

by admin
March 10, 2023
Next Post
Sam Bankman-Fried tried to influence witness through Signal: DOJ

Sam Bankman-Fried tried to influence witness through Signal: DOJ

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

U.S. military shoots down suspected Chinese surveillance balloon

U.S. military shoots down suspected Chinese surveillance balloon

February 6, 2023
Some megadonors support Trump super PAC as it backs him for president

Some megadonors support Trump super PAC as it backs him for president

December 12, 2022

Categories

  • Business
  • Politics
  • Technology

Don't miss it

Ex-Morgan Stanley advisor charged in alleged NBA fraud
Business

Ex-Morgan Stanley advisor charged in alleged NBA fraud

March 24, 2023
Crypto firms slam SEC, Washington for lack of clarity on rules
Technology

Crypto firms slam SEC, Washington for lack of clarity on rules

March 24, 2023
New Jersey deli fraud defendant renounced U.S. citizenship
Politics

New Jersey deli fraud defendant renounced U.S. citizenship

March 24, 2023
GameStop (GME) Q4 2022 earnings
Business

GameStop (GME) Q4 2022 earnings

March 22, 2023
Crypto firms look to Swiss lenders after Silvergate, Signature Bank fail
Technology

Crypto firms look to Swiss lenders after Silvergate, Signature Bank fail

March 22, 2023
Organized crime is plaguing retailers, spurring debate
Business

Organized crime is plaguing retailers, spurring debate

March 20, 2023
Scoop Nova

Scoop Nova is the only worldwide news organization with a European perspective, and it’s where the rest of the world goes to hear what the World has to say.

Categories

  • Business
  • Technology
  • Scandals
  • Politics

Quick Links

  • About Scoop Nova
  • Contact us
  • Editorial Principles
  • Why to trust us
  • Privacy Policy
  • Sitemap

Recent News

Ex-Morgan Stanley advisor charged in alleged NBA fraud

Ex-Morgan Stanley advisor charged in alleged NBA fraud

March 24, 2023
Crypto firms slam SEC, Washington for lack of clarity on rules

Crypto firms slam SEC, Washington for lack of clarity on rules

March 24, 2023

© Copyright 2022 ! All rights are reserved by scoopnova.com

  • Home
  • Business
  • Technology
  • Scandals
  • Politics

© Copyright 2022 ! All rights are reserved by scoopnova.com