Bill Details
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This bill would stop the federal government from selling oil and other petroleum products from the Strategic Petroleum Reserve to certain foreign companies. In simple terms, it says that if a company is based in Russia or in another country on a specific U.S. sanctions list, it could not buy petroleum released from the reserve. The goal is to keep these emergency energy supplies from going to entities tied to countries the United States considers hostile or heavily restricted.
- The rule would apply to petroleum products taken out of the Strategic Petroleum Reserve under any law.
- It would block sales to entities headquartered in Russia.
- It would also block sales to entities headquartered in countries listed in a U.S. sanctions regulation referenced in the bill.
- The bill makes technical changes to federal energy law so this new restriction is officially added.
Official Summaries
Save America’s Valuable Energy Act or the SAVE Act
This bill directs the Department of Energy to prohibit the sale of petroleum products (e.g., crude oil) from the Strategic Petroleum Reserve to entities headquartered in Russia, Belarus, Burma, China, Cuba, Iran, North Korea, Syria, or Venezuela.
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 256 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 256
To prohibit the sale of petroleum products from the Strategic Petroleum
Reserve to certain entities, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 9, 2025
Mrs. Bice (for herself, Mr. Baird, Mr. Valadao, Mr. Johnson of South
Dakota, Mr. Owens, Mr. Mann, Mr. Rutherford, and Mr. Donalds)
introduced the following bill; which was referred to the Committee on
Energy and Commerce
_______________________________________________________________________
A BILL
To prohibit the sale of petroleum products from the Strategic Petroleum
Reserve to certain entities, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Save America's Valuable Energy Act''
or the ``SAVE Act''.
SEC. 2. PROHIBITION AGAINST SELLING SPR PETROLEUM PRODUCTS TO CERTAIN
ENTITIES.
(a) Prohibition.--The Energy Policy and Conservation Act is amended
by inserting after section 169 (42 U.S.C. 6247b) the following:
``SEC. 170. PROHIBITION ON SALES TO CERTAIN ENTITIES.
``The Secretary shall prohibit the sale of petroleum products drawn
down from the Strategic Petroleum Reserve, under any provision of law,
to any entity headquartered in--
``(1) a country listed in table 1 to paragraph (d)(1) under
section 126.1 of title 22, Code of Federal Regulations, as in
effect on the date of enactment of this section; or
``(2) Russia.''.
(b) Conforming Amendments.--
(1) Drawdown and sale of petroleum products.--Section
161(a) of the Energy Policy and Conservation Act (42 U.S.C.
6241(a)) is amended by inserting ``and section 170'' before the
period at the end.
(2) Table of contents.--The table of contents for the
Energy Policy and Conservation Act is amended by inserting
after the item relating to section 169 the following:
``Sec. 170. Prohibition on sales to certain entities.''.
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