As Energy and Commerce Committee Chairman Fred Upton (R-MI) says, the proof is in the pudding. And the benefits of lifting the 40-year-old ban on crude oil exports are already unmistakable.
The legislative effort that says #Yes2Energy was designed to lower prices at the pump, support job growth, and strengthen America’s national security and geopolitical influence. A recent report by the Conservative Reform Network points to record results. The first tankers loaded with liquid American freedom arrived in Europe in January, and already this year, American oil exports are on track to reach a 90-year high.
Lifting the ban was a top priority for the Energy and Commerce Committee. Last year, the House passed H.R. 702, authored by Chairman Emeritus Joe Barton (R-TX), legislation to explicitly lift the export ban, and H.R. 8, the North American Energy Security and Infrastructure Act, which contained provisions lifting the ban. The third time was the charm as the committee was finally successful in getting the effort across the finish line when language to lift the ban was included in the year-end budget deal that was signed into law late last year.
Policy Matters: U.S. Crude Oil Exports Set Records
Last fall many conservatives made repeal of the 40-year-old crude oil export ban a policy priority. A number of conservative groups made the case for repeal, including the Heritage Foundation, Americans for Prosperity, and Freedom Works.
Twenty conservative and free market organizations urged members of Congress to “support legislation that fully lifts the ban on crude oil exports."
Here at the Conservative Reform Network, we outlined how repealing the crude export ban could help encourage America’s energy revolution, create thousands of high-paying jobs, and lower gasoline prices for Americans.
As part of the end-of-the-year omnibus spending bill, Speaker Ryan, Leader McConnell, and other leading Republicans successfully negotiated with the White House to include a full repeal of the ban. This was a significant achievement given that two months earlier President Obama had threatened to veto a bill repealing the ban on crude oil exports. …
Barrels of U.S. crude oil exports per day, in thousands
