Senator continues call to follow existing law and precedent, reject efforts to weaken or repeal ban from export proponents
Washington (September 15, 2015) – Today, the White House announced its opposition to Republican-led legislation in the House of Representatives that would life the ban on crude oil exports.
Senator Edward J. Markey (D-Mass.), a member of the Commerce, Science and Transportation Committee, released the following statement.
“The White House is right to oppose Republican legislation in the House to lift the crude export ban that would hurt consumers, our economy and national security when the only beneficiary would be Big Oil’s bottom line.
“It makes no sense to export our oil abroad when we still import millions of barrels of oil a day and consumers are saving at the pump because of discounted U.S. oil process. Low gas prices are a massive economic stimulus for American consumers and our economy. Oil companies want to lift the export ban in order to tip consumers upside down and shake money out of their pockets. We should keep our oil here to benefit our economy not hand a multi-billion windfall to Big Oil by allowing it to be sent overseas to the highest bidder.”
In June, Senator Markey and 12 Senators urged President Obama not to lift the longstanding ban on exporting American crude oil. In the letter, the senators point to the harm consumers, businesses and national security would face if the ban is repealed.