Monday, October 12, 2015

House Passes Bill To Lift Federal Prohibition on Crude Oil Exports

The House on Friday approved a bill, sponsored by Joe Barton (R-TX), to lift the federal prohibition on crude oil exports. Lawmakers voted 261-159 to end the 40-year-old crude oil export ban, arguing that the measure is necessary to help prop up the American oil industry by allowing its product to hit the world market.
The House’s Friday vote was the latest step in the lengthy congressional debate over lifting the export ban.  Industry (American Petroleum Institute, Independent Petroleum Association of America, National Association of Manufacturers) cheered the vote while environmentalists (League of Conservation Voters and others) think that pumping more oil out of the ground will be bad for the environment.

Suppoerts believe that lifting the ban on U.S. oil exports will offer our global allies and trading partners an alternative source of energy, shrink global dependence on oil sourced from hostile regimes, and put America on level fitting with all other producing nation. (The Hill, 10/9/2015)

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