White House Comes Out Against Ban on Crude Oil Exports
At a time when President Obama is advocating lifting sanctions against Iran, which would allow that nation to export oil around the world, you might think that President Obama would be willing to give his own nation the same opportunity.
Today, the White House announced that it opposes bipartisan legislation that will be considered by the House Energy and Commerce Committee tomorrow that would lift the outdated ban on crude oil exports. When that bill passed a subcommittee last week, Karen Harbert, president and CEO of the Energy Institute, said:
“Today’s vote is further evidence of the undeniable momentum in Washington and around the nation toward lifting the outdated ban on crude oil exports. The subcommittee agreed that the oil export ban is fundamentally unfair and places America at a disadvantage. We look forward to further consideration of Rep. Barton’s bill by the Energy Committee.”
The ban on crude oil exports was put into place in 1975 when the nation was in the midst of an oil crisis. Today, there is a huge opportunity for the U.S. to sell oil abroad, lowering gasoline prices, creating jobs at home, and helping our allies around the world.
Unfortunately the White House isn’t ready to agree yet. The Energy Institute will continue the fight to lift the crude oil ban. We’re putting pressure on key U.S. Senators who will serve as swing votes in the Senate, and we look forward to further action in the House