Hoeven Statement After Reps. Fletcher, Burgess Introduce House Companion Bill Providing $3 Billion to Purchase U.S. Crude for Strategic Petroleum Reserve

Hoeven Introducing Senate Legislation, Part of Efforts to Support Energy Industry, Oil & Gas Workers

BISMARCK, N.D. – Senator John Hoeven issued the following statement after U.S. Representatives Lizzie Fletcher and Michael Burgess introduced the House companion bill to legislation Hoeven is leading in the U.S. Senate to provide $3 billion in funding to purchase crude oil produced in the United States for the Strategic Petroleum Reserve (SPR). Earlier this month, Hoeven lead a bicameral and bipartisan group in announcing the legislation. Click here for the bill text.

“Our nation’s oil industry is essential to our economic and national security, and we need to do all we can to support our oil and gas workers. Given the challenges in our energy markets we need to pass this legislation to fund the purchase of U.S. crude for the SPR and help relieve supply pressures,” said Hoeven.  “This legislation supports a crucial U.S. industry and its workers, as well as the American taxpayers who benefit from greater economic and national security”

The legislation is being cosponsored by Senators John Cornyn, Kevin Cramer, Ted Cruz, Lisa Murkowski, Dan Sullivan, John Barrasso, and Jim Inhofe in the Senate. The House bill is being cosponsored by Representatives Kelly Armstrong, Henry Cuellar, Kendra Horn, Roger Williams, Vicente Gonzalez, Mike Conaway, Marc Veasey, Bill Flores, Michael McCaul, Chip Roy, Roger Marshall, Doug LaMalfa, Ron Estes and Tom Cole.