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Republicans Block Dems From Selling U.S. Oil

by Market FinancePosted onJanuary 12, 2023January 12, 2023

Here’s what happened…

The House of Representatives, which is now controlled by Republicans, has just voted to block the sale of anymore oil from the U.S. emergency stockpile to China.

According to Newsmax, the new bill, which was introduced by House Republicans, is attempting to prohibit the Energy Department from selling oil taken from the U.S. Strategic Petroleum Reserve to companies that are owned and operated by the Chinese Communist Party.

The new bill passed with 331-97 votes and 113 Democrats actually voted in favor with Republicans.

Republican Rep. Cathy McMorris Rodgers celebrated the passing of the bill and said that President Biden will no longer be allowed to “abuse of our strategic reserves.”

Just last year alone President Biden took out an astounding 180 million barrels from the strategic reserve and a large sum of that oil went directly to China.

“Draining our strategic reserves for political purposes and selling it to China is a significant threat to our national and energy security. This must be stopped,” McMorris Rodgers said condemning Biden.

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