McCaul Introduces Bill Lifting Ban on Crude Oil Exports

Statement

On Monday, the first day of the 114th Congress, Congressman Michael McCaul (R-TX) introduced H.R. 156, the Crude Oil Export Act, which lifts the 1970s era prohibition on the export of American crude oil and would remove the major remaining barrier that keeps the U.S. From being competitive with other oil exporting nations. The bill is cosponsored by Rep. Jeff Duncan (R-SC), Rep. Ted Poe (R-TX), and Rep. Jim Bridenstine (R-OK) and was originally introduced in the 113th Congress.

McCaul: "Most of America's crude oil production is taking place underneath the feet of Texans in the Eagle Ford Shale and the Permian Basin. With gas prices continuing to drop, exporting crude oil becomes even more important to the U.S. economy. Lifting the outdated ban on crude oil exports will result in more production, create new jobs at home and boost America's energy security while giving us a powerful new foreign policy tool. Ending self-imposed energy trade restrictions should be a top priority of the new Congress."

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