SAVE Act

Bill: 117-hr-8554
Sponsor: full_name: Rep. Bice, Stephanie I. [R-OK-5]
Introduced: 2022-07-28
Policy area: Energy
Subjects: Asia

Belarus

Burma

Caribbean area

China

Cuba

Energy storage, supplies, demand

Europe

Foreign and international corporations

Iran

Latin America

Middle East

North Korea

Oil and gas

Russia

Sanctions

Strategic materials and reserves

Syria

Trade restrictions

Venezuela
Latest action: action_date: 2022-07-28
text: Referred to the House Committee on Energy and Commerce.

Summaries:
action_date: 2022-07-28
action_desc: Introduced in House
text: <p><b>Save America&rsquo;s Valuable Energy Act or the SAVE Act</b></p> <p>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.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 8554 IN THE HOUSE OF REPRESENTATIVES July 28, 2022 Mrs. Bice of Oklahoma (for herself and Mr. Waltz ) 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.

1. Short title This Act may be cited as the Save America’s Valuable Energy Act or the SAVE Act . 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: 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. .