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Replenishing Our American Reserves Act

Source: Congress.gov  ·  1,533 words in original text
This bill changes how the Strategic Petroleum Reserve (a government stockpile of oil for emergencies) gets filled and emptied. It requires that only oil produced or refined in the United States goes into the reserve, and it limits what countries the government can buy oil from. The bill also directs the government to study creating a new reserve for crude oil and natural gas in remote areas.
The Secretary of Energy carries out most requirements in this bill. The Secretaries of Agriculture, Interior and Defense consult on certain decisions. Oil companies and foreign countries that supply oil could be affected by the new restrictions.
• Only petroleum products produced or refined in the United States can be put into the Strategic Petroleum Reserve starting when this law takes effect. (Sec. 2(a)) • The Secretary of Energy cannot fill the reserve with oil from 15 specific countries including Russia, Iran, Venezuela, Saudi Arabia and others, and cannot buy oil from any other country unless the Secretary certifies to Congress that the U.S. has exhausted all ways to increase domestic oil production. (Sec. 3(a)) • Oil sold from the Strategic Petroleum Reserve cannot be exported to countries designated as countries of particular concern for religious freedom violations. (Sec. 4) • State-owned companies buying oil from the reserve must certify they have not bought oil from countries under U.S. bans or sanctions within 15 days after those bans or sanctions start. (Sec. 4) • The Secretary of Energy must study whether to create a "Remote Crude Oil and Natural Gas Reserve" in Alaska and near qualified opportunity zones and report findings to Congress within 180 days. (Sec. 5)
If this becomes law, the government can only purchase American-made oil for its emergency reserve instead of buying from other countries. Companies bidding to buy oil released from the reserve must follow new rules about where they send the oil and must prove they are not breaking U.S. sanctions. The government must also investigate creating a new oil and gas storage system in remote U.S. locations.
The bill defines "covered country" as Algeria, Angola, Democratic Republic of the Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, People's Republic of China, Russian Federation, Saudi Arabia, United Arab Emirates and Venezuela. (Sec. 3(a)) The bill defines "production" as not including the refining of a petroleum product. (Sec. 3(a))
The requirement to fill the reserve only with U.S.-produced or refined petroleum products takes effect on the date this law is enacted. The Secretary of Energy must issue regulations within 180 days of enactment. The study on creating a Remote Crude Oil and Natural Gas Reserve must be submitted to Congress within 180 days of enactment.
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.