#Yes2Energy: House Votes to Lift 40-Year-Old Ban on Crude Oil Exports
WASHINGTON, DC – The United States House of Representatives today passed Rep. Joe Barton’s (R-TX) H.R. 702, bipartisan legislation that would #LiftTheBan on crude oil exports. The measure passed by a vote of 261 - 159. Studies have shown that lifting the antiquated ban on crude oil exports would lower prices at the pump, support job growth, and strengthen America’s national security and geopolitical influence across the globe. The passage of H.R. 702 adds to the Energy and Commerce Committee’s growing bipartisan #RecordOfSuccess.
Energy and Power Subcommittee Chairman Ed Whitfield (R-KY) noted, “I am delighted to see this important bipartisan bill pass the House of Representatives. This legislation will allow us to tap into America’s energy abundance and natural resources, while putting an end to the outdated restrictions on the export of American oil. I applaud Mr. Barton and the rest of our Energy and Power Subcommittee for all of their hard work on this legislation that will provide a major boost for jobs and the economy, and help keep gasoline affordable for everyone.”
The bill’s sponsor, Rep. Joe Barton added, “This is not a regional issue. This is not an oil patch issue. This is an American issue. America’s energy boom has sparked a jobs boom, but continued job growth is now in jeopardy without access to global markets. H.R. 702 presents a rare opportunity to help the economy at home, enhance our influence abroad, and strengthen our national defense, and all at no added cost to the American people and I’m glad it passed the House today.”
Energy and Commerce Committee Chairman Fred Upton (R-MI) concluded, “Lifting the crude oil export ban is a win for our economy. It would lower prices at the pump, create jobs, generate hundreds of millions of dollars in economic benefits, and strengthen our geopolitical influence across the globe. It would also boost royalty payments from federal oil and gas leases, reducing the budget deficit by over a billion dollars. Collectively, all of these gains provide the makings of a success story that would greatly benefit our economy at a time of great uncertainty. After four decades, it’s time to lift the ban and say yes to energy.”
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