House Votes to Lift the Ban on American Oil Exports
Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) released the following statement on H.R. 702, to Adapt to Changing Crude Oil Market Conditions:
“Policies of the past must always be reexamined to fit the changing future. In the 1970s, many believed that oil was a finite resource in the United States, which is why protectionist policies were put in place to ensure America was the sole beneficiary of American oil. Today, the script has flipped. We are the top oil and gas producer in the world and due to innovative extraction techniques, the future of American-made oil and gas remains bright. But while America has experienced an energy renaissance, our 1970s policies that restrict free enterprise remain intact.
“Today, the House took prudent action to lift the crude oil export ban and in turn, pave the way for job creation, lower gasoline prices, and a stronger geopolitical standing. This bill will make America and its allies more secure. I want to thank Rep. Joe Barton (TX-06) for his leadership on this issue and Chairman Upton’s leadership as the Energy and Commerce Committee worked to prepare this bill for the floor. In order for America to grow, we must move forward—doing so requires America’s resource strength to flow freely throughout the world.”