"Proposal to Sell U.S. Northeast Gasoline Reserve in 2024 Raises Controversy"

A funding bill up for discussion at U.S. Congress proposes selling off the 1-million-barrel Northeast Gasoline Supply Reserve in fiscal year 2024 and prohibits Chinese entities from buying crude oil from the U.S. Strategic Petroleum Reserve. The bill also aims to prevent the establishment of new regional petroleum product reserves without explicit funding approval. The proposed sale follows previous releases of crude from the SPR to stabilize oil prices, and its chances of passing appear favorable given bipartisan anti-Chinese sentiments.