WASHINGTON, DC – The House of Representatives is poised to pass legislation for the third time this year to lift the 40-year-old ban on crude oil exports. The measure is included in this year’s budget deal that will be considered by the House and Senate later this week. Lifting the ban has been a priority of the Energy and Commerce Committee. In October, the House first passed H.R. 702, bipartisan legislation authored by Chairman Emeritus Joe Barton (R-TX) that eliminated the ban on crude oil exports. The measure was also added to the committee’s sweeping energy bill, H.R. 8, the North American Energy Security and Infrastructure Act, which passed the House in early December.
Studies have shown that lifting the antiquated ban on crude oil exports would lower prices at the pump, create jobs, generate economic growth, and strengthen America’s geopolitical influence around the globe. The committee’s effort to lift the ban has achieved broad support from leading stakeholders representing all sectors of the economy.
“Hopefully the third time’s the charm for lifting the ban. The United States is now one of the leading energy producers in the world and it’s time our policies reflect this new reality,” said Energy and Commerce Committee Chairman Fred Upton (R-MI). “The benefits are many – lifting the ban will create jobs, keep energy affordable, boost energy production, help our allies, and improve our energy security. After nearly four decades, it’s time we lift the ban and say yes to American energy.”