WASHINGTON, DC – The Subcommittee on Energy and Power, chaired by Rep. Ed Whitfield (R-KY), today advanced Chairman Emeritus Joe Barton’s H.R. 702, legislation that will lift the nearly 40-year-old ban on crude oil exports by voice vote.
Chairman Whitfield stated, “Today we took an important step forward in putting an end to the outdated restrictions on the export of American oil. Allowing oil exports would provide a major boost for jobs and the economy, keep gasoline prices affordable, and strengthen our nation security. The pro-exports consensus is a broad one and I’m glad H.R. 702 advanced our of the subcommittee today.”
Rep. Joe Barton added, “As of this morning we had 126 bipartisan cosponsors from across the country representing 39 states. It’s a rare breed of legislation – with endorsements from the Blue Dog Coalition and Republican Study Committee. Lifting the ban on U.S. crude oil exports this year would create jobs in all 50 states and increase tax revenue upwards of $13.5 billion in 2020. I’m thankful that the legislation passed the subcommittee today and I’m looking forward to the bill coming to full committee for a vote.”
Energy and Commerce Committee Chairman Fred Upton (R-MI) concluded, “America’s energy landscape has changed dramatically since 1975 and there’s widespread support for oil exports. I would also note, the president’s agreement with Iran now allows Iran to export oil as well. Creating jobs, keeping energy affordable, boosting energy production, and improving energy security are all important things that this bill accomplishes and I’m looking forward to moving the bill to full committee.”
To view letters in support of H.R. 702, click here.