The Subcommittee on Energy and Power, chaired by Rep. Ed Whitfield (R-KY), voted to move forward Rep. Joe Barton’s legislation H.R. 702, that will lift the nearly 40-year-old ban on crude oil exports by a voice vote.
Three Pennsylvanians are cosponsors of the legislation: Congressmen Mike Kelly, Tim Murphy and Joe Pitts. (MORE)
The bill amends the Energy Policy and Conservation Act to repeal authority of federal officials to restrict the export of coal, petroleum products, natural gas, or petrochemical feedstocks; and supplies of materials or equipment necessary to maintain or further exploration, production, refining, or transportation of energy supplies, or for the construction or maintenance of energy facilities within the United States.
It prohibits any federal official from imposing or enforcing any restriction on the export of crude oil, and requires the Secretary of Energy to study and make recommendations on the appropriate size, composition, and purpose of the Strategic Petroleum Reserve.
Chairman Whitfield said, “We took an important step forward in putting an end to the outdated restrictions on the export of American oil.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 national security. The pro-exports consensus is a broad one and I’m glad H.R. 702 advanced out of the subcommittee today.”
Rep. Barton added, “As of this morning we had 129 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 by 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) said at the meeting, “America’s energy landscape has changed dramatically since 1975 and there’s widespread support for oil exports. 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.”