Washington, D.C. – Bipartisan Policy Center (BPC) President Jason Grumet today urged Congress to act on bipartisan legislation introduced in the House and Senate to lift the decades-old ban on crude oil exports:
“Restrictions on exporting crude oil are an anachronism, forged in a bygone era of vulnerability, that are now inhibiting our ability to capitalize on America’s energy strength. BPC commends Chairman Murkowski, Chairman-emeritus Barton, Representative McCaul and their bipartisan co-sponsors for moving this debate forward.
“During the current debate on free trade, the export ban stands out as a form of resource nationalism that undermines our nation’s fundamental commitment to efficient markets and our ability to promote free and fair trade. Lifting the ban is also a much needed step for strengthening our national security. Of course Congress should move to lift these restrictions in a deliberate manner that is cognizant of the impact on those refiners who have come to rely on lower domestic crude prices.”