SAVE Act

Hozzl · 2023-12-15T15:53:08Z

Explore the details of House Bill 59 SAVE Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Energy. Stay informed on legislative developments.

12/15/2023, 3:53 PM

Congressional Summary of HR 59

Save America’s Valuable Energy Act or the SAVE Act

This bill directs the Department of Energy (DOE) to prohibit the sale of petroleum products (e.g., crude oil) from the Strategic Petroleum Reserve (SPR) to certain entities. Specifically, DOE must prohibit the sale of petroleum products from the SPR to entities headquartered in Russia. Further, DOE must prohibit the sale of petroleum products from the SPR to entities headquartered in countries (Belarus, Burma, China, Cuba, Iran, North Korea, Syria, and Venezuela) that are subject to certain prohibitions concerning exports of defense articles and services under the Department of State's International Traffic in Arms Regulations.

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Current Status of Bill HR 59

Bill HR 59 is currently in the status of Bill Introduced since January 9, 2023. Bill HR 59 was introduced during Congress 118 and was introduced to the House on January 9, 2023. Bill HR 59's most recent activity was Referred to the House Committee on Energy and Commerce. as of January 9, 2023

Bipartisan Support of Bill HR 59

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 59

Primary Policy Focus

Energy

Potential Impact Areas

AsiaBelarusBurmaCaribbean areaChinaCubaEnergy storage, supplies, demandEuropeForeign and international corporationsIranLatin AmericaMiddle EastNorth KoreaOil and gasRussiaSanctionsStrategic materials and reservesSyriaTrade restrictionsVenezuela

Alternate Title(s) of Bill HR 59

SAVE ActSAVE ActSave America’s Valuable Energy ActTo prohibit the sale of petroleum products from the Strategic Petroleum Reserve to certain entities, and for other purposes.

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