Oil Exports Bill gets Bipartisan Support, Passes out of Energy and Commerce Committee
WASHINGTON – Thursday, the House Energy and Commerce Committee held a mark-up of H.R. 702, which would lift the nearly 40-year-old ban on crude oil exports. Several amendments were adopted in Committee, including Rep. Gene Green’s (D-TX) Savings Provision. The provision would grant authority to the President of the United States to halt exports in cases where it is not in our nation’s best interest or poses a risk to national or economic security.
Green said, “We’ve been eager to work on this legislation for months, and come to a solution that works. While this is still a work in progress, we’re pleased with the strides we’ve made. Any legislation that passes out of the House needs to be bipartisan and protect American jobs and families. Not only do we need the Presidential protections we provided today, we need to have a process established at the Department of Commerce and provide opportunity for our maritime community.”
H.R. 702, introduced by Texas Reps. Joe Barton (R-TX) and Henry Cuellar (D-TX), is slated to be reviewed by the full House of Representatives this fall.