{"id":1824223,"date":"2023-01-26T06:34:38","date_gmt":"2023-01-26T11:34:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1824223"},"modified":"2023-01-26T06:37:53","modified_gmt":"2023-01-26T11:37:53","slug":"bill-by-ted-cruz-would-deliver-major-blow-to-chinese-economy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bill-by-ted-cruz-would-deliver-major-blow-to-chinese-economy\/","title":{"rendered":"Bill by Ted Cruz Would Deliver Major Blow to Chinese Economy"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbill-by-ted-cruz-would-deliver-major-blow-to-chinese-economy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1824223&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p class=\"speakable\">Ted Cruz (Republican from Texas) introduced Wednesday a bill that would prohibit the Biden administration&#8217;s sale of oil from the U.S. Strategic Petroleum Reserve to China and Chinese Communist Party(CCP-owned) companies.<\/p>\n<p class=\"speakable\">Cruz&#8217;s bill, the Protecting America\u2019s Strategic Petroleum Reserve from China Act, was cosponsored by over a dozen Senate Republicans and closely mirrors the bill passed by the House this month. The House bill was approved by an overwhelming vote of 331 to97. <a href=\"https:\/\/www.foxnews.com\/politics\/dems-join-gop-vote-block-biden-selling-strategic-oil-reserves-to-china\" target=\"_blank\" rel=\"noopener\">113 House Democrats<\/a> voting in favor.<\/p>\n<p>If the Democratic leaders agree to take up the bill, the bill will have a chance in Senate because of the easy House vote.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/markets\/un-secretary-general-says-big-oil-peddles-big-lie-should-be-held-to-account-like-tobacco\" target=\"_blank\" rel=\"noopener\"><strong><u>U.N. SECRETARY-GENERAL SAYS \u2018BIG OIL\u2019 PEDDLES \u2018BIG LIE,\u2019 SHOULD BE \u2018HELD TO ACCOUNT\u2019 LIKE TOBACCO<\/u><\/strong><\/a><\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxnews.com\/foxnews.com\/content\/uploads\/2023\/01\/640\/320\/GettyImages-1447234108.jpg?ve=1&#038;tl=1\" alt=\"Texas Sen. Ted Cruz&#039;s bill would ban the sale of American crude oil from the SPR to any company under the control of the Chinese Communist Party and prohibit the export of any crude oil from the SPR to China.\"   style=\"display:none\"><\/div>\n<div class=\"caption\">\n<p>\n Ted Cruz, a Texas senator, proposed a bill that would prohibit American crude oil being sold from the SPR from any Chinese company and ban any export from the SPR from China.<br \/>\n      <span class=\"copyright\">(Kevin Dietsch\/Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>&#8220;The Strategic Petroleum Reserve was intended to ensure that America had sufficient oil reserves in the event of an emergency,&#8221; Cruz stated this in a statement.\u00a0<\/p>\n<p>&#8220;Instead, Joe Biden sold a portion of this critical national security asset to the Chinese Communist Party when the CCP was stockpiling oil for its own strategic use, and while Americans are paying higher and higher prices for fuel because of the Biden administration\u2019s disastrous energy policies,&#8221; Cruz said.<\/p>\n<p>&#8220;We need to immediately act to stop this from happening in the future and unleash American energy,&#8221; He stated.<\/p>\n<p>Biden first ordered <a href=\"https:\/\/www.foxbusiness.com\/energy\" target=\"_blank\" rel=\"noopener\"><u>the Department of Energy<\/u><\/a> to tap into SPR in November 2021 and claim it was a &#8220;major effort to moderate the price of oil&#8221; Prices that are lower on the average &#8220;corner gas station.&#8221; Biden announced that Russia invaded Ukraine in 2014 and that he would release another 30 million barrels and 180-million barrels in March 2022.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/oil-expert-bidens-weaponization-strategic-petroleum-reserve-blasphemy\"><strong>OIL EXPERT RIPS BIDEN&#8217;S WEAPONIZATION OF STRATEGIC PETROLEUM RESERVE AS &#8216;BLASPHEMY&#8217;: &#8216;DISASTER FOR AMERICA&#8217;<\/strong><\/a><\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxnews.com\/foxnews.com\/content\/uploads\/2021\/10\/640\/320\/TED-CRUZ-SENATE-OVERSIGHT.jpg?ve=1&#038;tl=1\" alt=\"Cruz&#039;s bill, the Protecting America\u2019s Strategic Petroleum Reserve from China Act, was cosponsored by over a dozen Senate Republicans.\" \/><\/div>\n<div class=\"caption\">\n<p>\n      Cruz&#8217;s bill, the Protecting America\u2019s Strategic Petroleum Reserve from China Act, was cosponsored by over a dozen Senate Republicans.<br \/>\n      <span class=\"copyright\">(Reuters)<\/span><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.foxnews.com\/politics\/dems-join-gop-vote-block-biden-selling-strategic-oil-reserves-to-china\"><strong>DEMS JOIN GOP IN VOTE TO BLOCK BIDEN FROM SELLING STRATEGIC OIL RESERVES TO CHINA<\/strong><\/a><\/p>\n<p>As a result of the administration\u2019s action, the SPR is at its lowest level since 1986 and Chinese-controlled companies have successfully purchased at auction two million barrels, despite having one of the world\u2019s largest stockpiles of oil.\u00a0<\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxnews.com\/foxnews.com\/content\/uploads\/2021\/11\/640\/320\/GettyImages-1355162581.jpg?ve=1&#038;tl=1\" alt=\"Oil pumpjacks stand in the Inglewood Oil Field in Los Angeles.\" \/><\/div>\n<div class=\"caption\">\n<p>\n Los Angeles oil pumpjacks standing in Inglewood Oil Field.\n      <\/p>\n<\/div>\n<\/div>\n<p>Cruz&#8217;s bill would have the effect of banning the sale of American crude oils from the SPR and prohibiting the export of any crude oil to China from the SPR.<\/p>\n<p><a href=\"https:\/\/www.foxnews.com\/apps-products?pid=AppArticleLink\" target=\"_blank\" rel=\"noopener\"><strong>CLICK HERE TO GET THE FOX NEWS APP<\/strong><\/a><\/p>\n<p>Sens. Roger Marshall, R-Kan.; Kevin Cramer, R-N.D.; Dan Sullivan, R-Alaska; Joni Ernst, R-Iowa; Jerry Moran, R-Kan.; John Boozman, R-Ark.; Mike Braun, R-Ind.; Rick Scott R-Fla. ; Cindy Hyde Smith R-Miss.; Tom Cotton R.Ark.; Roger Wicker, R-Miss.; Tim Scott, R-S.C.; Josh Hawley, R-Mo.The bill was cosponsored and cosponsored by John Cornyn, R.Texas, and Deb Fischer R.Neb.<\/p>\n<div class=\"article-meta\">\n<div class=\"author-bio\">\n<p>Brianna Herlihy works as a political writer at Fox News Digital.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ted Cruz (Republican from Texas) introduced Wednesday a bill that would prohibit the Biden administration&#8217;s sale of oil from the U.S. Strategic Petroleum Reserve to China and Chinese Communist Party(CCP-owned) companies. Cruz&#8217;s bill, the Protecting America\u2019s Strategic Petroleum Reserve from China Act, was cosponsored by over a dozen Senate Republicans and closely mirrors the bill &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1824226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[4160,4117,4105,6359,9168,3752,6199],"class_list":["post-1824223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-blow","tag-chinese","tag-cruz","tag-deliver","tag-economy","tag-major","tag-ted"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1824223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1824223"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1824223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1824226"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1824223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1824223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1824223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}