Banning Oil Exports to Foreign Adversaries Act

Hozzl · 2024-04-11T08:23:18Z

Explore the details of Senate Bill 4020 Banning Oil Exports to Foreign Adversaries Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Energy. Stay informed on legislative developments.

4/11/2024, 8:23 AM

Summary of Bill S 4020

Bill 118 s 4020, also known as the Banning Oil Exports to Foreign Adversaries Act, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to prohibit the export of oil to countries that are considered to be foreign adversaries of the United States.

The bill specifically targets countries that have been identified as posing a threat to national security or engaging in activities that are detrimental to US interests. By banning the export of oil to these countries, the bill aims to limit their access to valuable resources and reduce their ability to fund activities that may be harmful to the US and its allies.

Supporters of the bill argue that restricting oil exports to foreign adversaries is a necessary step to protect national security and prevent the funding of hostile activities. They believe that by cutting off a key source of revenue for these countries, the US can weaken their ability to threaten American interests. Opponents of the bill, however, raise concerns about the potential economic impact of such a ban. They argue that restricting oil exports could harm US businesses and lead to higher prices for consumers. Additionally, some critics question the effectiveness of the bill, suggesting that it may not actually deter foreign adversaries or achieve its intended goals. Overall, Bill 118 s 4020 is a controversial piece of legislation that raises important questions about the balance between national security and economic interests. As Congress debates the merits of the bill, it will be important to consider both the potential benefits and drawbacks of restricting oil exports to foreign adversaries.

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Current Status of Bill S 4020

Bill S 4020 is currently in the status of Bill Introduced since March 21, 2024. Bill S 4020 was introduced during Congress 118 and was introduced to the Senate on March 21, 2024. Bill S 4020's most recent activity was Read twice and referred to the Committee on Energy and Natural Resources. as of March 21, 2024

Bipartisan Support of Bill S 4020

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 S 4020

Primary Policy Focus

Energy

Alternate Title(s) of Bill S 4020

Banning Oil Exports to Foreign Adversaries ActBanning Oil Exports to Foreign Adversaries ActA bill to amend the Energy Policy and Conservation Act to prohibit the export or sale of petroleum products from the Strategic Petroleum Reserve to certain entities, and for other purposes.A bill to amend the Energy Policy and Conservation Act to prohibit the export or sale of petroleum products from the Strategic Petroleum Reserve to certain entities, and for other purposes.

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