IPAA cheers House passage of legislation to lift oil export ban

WASHINGTON, D.C. – The U.S. House of Representatives passed a bipartisan energy package Thursday, which included an amendment offered by Rep. Joe Barton (R-TX) to lift the ban on U.S. crude oil exports.

The crude oil exports amendment was approved by a bipartisan vote of 255-168. Lifting trade restrictions on U.S. crude oil exports would further enhance the nation's economic and national energy security, strengthen America’s geopolitical standing around the world, and provide meaningful benefits to American families and consumers.

“With the loss of 250,000 American oil and gas jobs this year along with Iran looking to re-enter the international oil market, our nation’s oil and gas industry faces an urgent situation,” said Barry Russell, president of Independent Petroleum Association of America (IPAA). “For a second time this year, the U.S. House of Representatives voted in a bipartisan manner to eliminate the 40-year-old ban on U.S. crude oil exports, which would level the playing field and provide American businesses with competitive access to sell their U.S. oil freely on the world market.”

“IPAA urges the U.S. Senate to move swiftly and allow competitive American oil exports that create jobs, grow our economy, and keep our gasoline prices low,” Russell added.