(Washington, DC) – Congressman Dan Crenshaw (TX-02) today applauded a decision by the Department of Energy (DOE) to suspend the sale of oil from the Strategic Petroleum Reserve (SPR) amid a global decline in oil prices. The announcement comes one day after Crenshaw, joined by Reps. Liz Cheney (R-WY) and Garret Graves (R-LA), sent a letter to Energy Secretary Dan Brouillette urging the Department to halt the scheduled sale.
“This is a prudent decision that will help ensure American taxpayers are getting a fair return from the sale of our strategic oil reserves. Bad-faith actions by Russia are hampering global energy supply and have put a downward pressure on oil prices that will undermine the value of this sale. I applaud Secretary Brouillette for quickly heeding the call from myself, and my colleagues Reps. Cheney and Graves, and look forward to working together on any additional actions to stabilize world energy markets.
“As America continues to demonstrate energy independence and dominance, we must be vigilant against retaliatory actions by a frightened Russia. We can’t allow our position as a global leader in energy production to be threatened by Russian attempts to further destabilize world energy markets by breaking good-faith OPEC negotiations.”
To read Rep. Crenshaw’s letter, please click here.