Olson Acts to Enhance Energy Development by Lifting the Ban on Crude Oil Exports
Rep. Pete Olson (R-TX) today acted to create American jobs and potentially lower energy costs by voting to lift a Carter-era ban on the export of US crude oil. Since 2008, U.S. oil production has significantly increased and today is the largest producer of oil and natural gas in the world. The export ban was put in place at a time when technology was not available to access the multitude of energy reserves available in the US. The bill passed the House by a vote of 261 â€“ 159.
â€œAmerican ingenuity and risk takers developed a process to tap into the vast energy reserves right here at home,â€ Rep. Olson said. â€œPeak oil is a thing of the past. Itâ€™s time for our energy policies to match our energy resources. A vote to lift the ban will spur economic growth by boosting American energy production and creating jobs. Studies have also indicated that prices may go down for American energy consumers. Lifting this ban not only improves free trade, but itâ€™s a win for our economy, consumers and our global partners held hostage to hostile regimes blocking affordable energy. I urge the Senate to support American energy by passing this bill as soon as possible.â€
Media Contact: Melissa Kelly