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HILL ENERGY BRIEFING: Strategic Oil Reserve Targeted in Bills

Jan. 25, 2023, 11:07 AM

The Strategic Petroleum Reserve has emerged as an early battlefront of the new Congress, as House Republicans look to pass another bill (H.R. 21) this week limiting its use and Senators push related measures.

The “Strategic Production Response Act” would tie drawdowns from the nation’s SPR to plans for greater fossil fuel development on federal lands and waters. The administration would not be able to tap the emergency reserves until it crafted a corresponding plan to increase federal onshore and offshore oil and gas leasing. Republicans have criticized the Biden administration for slow-walking federal fossil fuel development, but ...