Bill 119 hr 942, also known as the "Strategic Petroleum Reserve Protection Act," aims to amend the Energy Policy and Conservation Act to prevent the export or sale of petroleum products from the Strategic Petroleum Reserve (SPR) to specific entities. The Strategic Petroleum Reserve is a government-owned emergency oil stockpile designed to provide a buffer against potential disruptions in the global oil supply.
The bill seeks to prohibit the export or sale of petroleum products from the SPR to entities that are not eligible to receive such products under existing laws and regulations. This measure is intended to ensure that the SPR is used solely for its intended purpose of safeguarding the United States against energy supply disruptions and not for commercial gain or other purposes.
In addition to prohibiting the export or sale of SPR petroleum products to certain entities, the bill also includes provisions for other purposes related to the management and operation of the SPR. These provisions may include measures to enhance the security and resilience of the SPR, improve its efficiency and effectiveness, or address any other issues related to the reserve's operation.
Overall, the Strategic Petroleum Reserve Protection Act aims to strengthen the integrity and effectiveness of the Strategic Petroleum Reserve by ensuring that its resources are used in a manner consistent with its intended purpose of protecting the United States against energy supply disruptions.