US House Panel Clears Bill to Repeal Crude Export Ban
The initiative to repeal the ban on crude exports from the U.S.A. has reached a major hurdle after the House of Representatives Subcommittee on Energy and Power passed the bill proposing to lift the 40-year-old restrictions by a voice vote on Thursday.
The full Energy and Commerce Committee is expected to vote on the legislation advanced by Republican Representative Joe Barton from Texas next week. If the bill gets the yes vote next week, it will head to the Republican-led House of Representatives, where it is expected to pass.
However, the U.S. Senate - the next stop on the bill’s way to becoming the law - is expected to be the hardest test for those advocating the repeal of the oil export ban imposed back in 1975.
”America’s energy landscape has changed dramatically since 1975 and there’s widespread support for oil exports. I would also note, the president’s agreement with Iran now allows Iran to export oil as well,” Energy and Commerce Committee Chairman Fred Upton (R-MI) said.
”Creating jobs, keeping energy affordable, boosting energy production, and improving energy security are all important things that this bill accomplishes and I’m looking forward to moving the bill to full committee.”
World Maritime News Staff
