The SAVE Act (H.R. 256) would add a new provision to the Energy Policy and Conservation Act prohibiting the sale of petroleum products drawn from the Strategic Petroleum Reserve (SPR) to any entity headquartered in certain foreign countries. Specifically, it would bar SPR withdrawals or sales to entities headquartered in (1) any country listed in table 1 to paragraph (d)(1) of 22 Code of Federal Regulations section 126.1 (as of the date of enactment) and (2) Russia. The prohibition would apply to sales made under any authority in law, not just a single program. The bill also makes conforming amendments to insert this new section into the statute and update the table of contents. In short, the bill would prevent SPR oil from being sold to certain foreign-based entities, as defined by U.S. sanctions-related country lists.
Key Points
- 1Creates a new Section 170 in the Energy Policy and Conservation Act to prohibit SPR petroleum product sales to entities headquartered in specified countries (those on 22 CFR 126.1 Table 1 as of enactment, plus Russia).
- 2The prohibition applies to petroleum products drawn down from the SPR under any provision of law, not just specific SPR programs.
- 3The country list is drawn from existing U.S. sanctions/foreign policy controls (22 CFR 126.1 Table 1) and includes Russia explicitly.
- 4Requires conforming amendments to EPCA, including inserting a new section 170 and updating the table of contents.
- 5The bill designates the short title as the “Save America’s Valuable Energy Act” or the “SAVE Act.”