Markey: US-EU Trade Pact Shouldn’t Scuttle Crude Oil Export Ban
Washington (July 8, 2014) – Senator Edward J. Markey (D-Mass.) released the following statement today after the Washington Post posted an internal European Union trade document calling for a legally binding rule in the Transatlantic Trade and Investment Partnership requiring the United States to automatically approve all exports of natural gas and crude oil from the United States to the European Union. Senator Markey chairs the Foreign Relations subcommittee that handles international energy issues.
“Attempting to use a transatlantic trade agreement to scuttle established U.S. law prohibiting the export of America’s oil would be a titanic mistake for our consumers, national security, and energy policy.
“The Middle East is in turmoil. Gas prices are sky high in the middle of driving season. And we still import millions of barrels of oil a day. Exporting our crude oil is not the answer for anyone but oil companies.
“Between this international overture and the Commerce Department’s reported private decisions to relax one part of the oil export ban, it’s now open season on the congressional laws that protect our energy interests. The Obama administration should affirm that a full debate will be held on this issue, and that Congress will decide when these laws are modified, since it was Congress who put them in place.”