Ideas. Action. Results.

BPC’s Grumet: House Committee Action Paves Way to Lifting Outdated Oil Export Ban

Friday, September 18, 2015

Washington, D.C. – The Bipartisan Policy Center applauds the House Energy and Commerce Committee for the important step it took this week toward lifting the outdated 40-year ban on crude oil exports, BPC President Jason Grumet said.

“Lifting the crude oil export ban will eliminate a counterproductive market barrier, strengthen our economy, put downward pressure on gasoline prices and diminish the power of those who seek to use oil revenues to undermine U.S. interests and security. Chairman Upton and Representative Green should be congratulated for working together to add provisions ensuring that our economic and national security interests are protected from unforeseen consequences. BPC hopes to see a vigorous floor debate that considers additional options that increase bipartisan support for this important effort,” Grumet said.

“It is critical that our nation captures the full benefits of our energy abundance while committing to accelerate energy innovation from the new position of strength. The Bipartisan Policy Center is committed to working with all sides in this debate to develop the bipartisan and bicameral support necessary to seize this important opportunity to modernize our energy systems to manage current and future energy needs,” Grumet said.

KEYWORDS: 114TH CONGRESS, CRUDE OIL, FRED UPTON, HOUSE ENERGY AND COMMERCE COMMITTEE, JASON GRUMET