Jan 11, 2023 IPAA Statement on Legislation to Rein in “Misuse of the Strategic Petroleum Reserve”
Ahead of the January 12, 2023 floor vote on H.R. 22 – the Protecting America’s Strategic Petroleum Reserve from China Act, IPAA President & CEO Jeff Eshelman released the following statement.
IPAA President & CEO Jeff Eshelman: “The Independent Petroleum Association of America (IPAA) endorses legislation put forth by House Republicans aimed at reining in the Administration’s misuse of the Strategic Petroleum Reserve (SPR). The SPR was NOT intended to be used as a political tool to bring down gasoline prices as this would only place a band-aid on the overarching situation. The long-term solution is to enhance, rather than hinder, America’s leadership in natural gas and oil production. Our true domestic natural gas and oil reserves – from production to pipelines and through the supply chain – are ready to work and Republicans’ legislation puts them and our American allies at the forefront.”