Large Bipartisan Majorities Favor Prohibiting Sale of Property and Oil Reserves to Affiliates of Foreign Adversaries

Abstract

– Large bipartisan majorities favor proposals that would prohibit the sale of US real estate and oil reserves to entities linked to foreign adversaries, including China and Russia. Three-quarters (73%) support a prohibition on the sale of property, including farmland; while 72% support a prohibition on selling oil from US oil reserves, according to an in-depth study by the Program for Public Consultation at the University of Maryland’s School of Public Policy.

Concerns among Members of Congress over the US’ economic relations with its adversaries, particularly China, have been on the rise. This has been caused in part by increasing purchases of US agricultural land by Chinese companies; as well as the sale of US oil reserves to Chinese energy companies. Members of Congress and state legislatures have introduced legislation to address this issue. Rep. Gallagher, the Chairman of the House select committee on China, recently put forward a bipartisan bill which would give federal officials greater authority to block companies affiliated with foreign adversaries from acquiring certain US lands, particularly those near sensitive sites (e.g. military bases, telecommunication infrastructure.)