The House of Representatives voted on Friday to lift a 40-year ban on the export of crude oil, delivering on a top legislative priority for the oil industry and setting the stage for a new clash with the White House over energy.
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The House and Senate are in the final stages of pushing legislation to the President’s desk that would allow the U.S.to export crude oil to countries worldwide.
The bill must still be approved by the Senate and signed by the President before the ban is lifted. Selling US oil to foreign markets will result in higher gas prices at the pump and ultimately benefit China and other economic rivals, Castor said.
Opponents – mostly Democrats – said the bill would mainly benefit big oil companies at the expense of American consumers.
“Lifting the oil export ban is a giveaway to the oil industry that would undermine the progress our country is making to use more clean energy and fight climate change”, said Franz Matzner, director of the Natural Resources Defense Council’s anti-oil initiative. Highlighting how the administration has already supported “safe and responsible production growth”, the White House declared “legislation to remove crude export restrictions is not needed at this time”, adding, “Congress should be focusing its efforts on supporting our transition to a low-carbon economy”. “In my view, America’s energy boom has the potential to reset the economic foundation of our economy and improve our standing around the world”, Boehner said.
Still, a strong show of bipartisan support for the bill in the more polarized House could influence the outcome in the Senate, where Republicans have been more broadly supportive of a ranges of business interests.
“We reiterate our 15% odds for passage…largely because of ongoing White House opposition and limited incentives for Senate Democrats to cooperate”.
The House will move forward with the vote and should, because lifting the ban is long overdue.
“Let’s finally let American oil be exported on the world markets when we have such an abundance and we have the ability to create hundreds of thousands of new American jobs”, Scalise said.
“I am strongly in favor of ending the ban on the export of crude oil”, said Palmer in a press release after the vote.
“I think there are the votes to pass the bill in the Senate”. Greens say additional energy drilling will harm the environment.
“The maritime provision makes it even more of a bipartisan bill”, said Rep. Marc Veasey, (D., Texas), one of the original co-sponsors who cites the backing of shipping labor unions in urging his colleagues to support the measure. Providing our allies in Europe access to American oil will reduce Russia’s power on the continent, immediately providing an advantage to the USA and our allies.
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Conservative groups objected to the measure – slipped in by Republican leaders in a bid to win over a few Democrats supportive of the maritime sector and its unionized workforce.
