U.S. Senators want to introduce a bill that will help lift the U.S oil export ban
The export ban on US oil currently compromises American competitiveness and security by restricting the ability of American crude oil producers to export and sell their products outside of our national border, said U.S. Senator Joe Manchin and several of his companions on the Hill.
The Senators are working to lift a ban enacted 40 years ago in the 1970s. They cite reports from the Government Accountability Office, the Brookings Institution, and IHS which indicate that lifting the ban would more than likely lower gasoline prices and have a positive impact on economic growth and energy development across the country.
“This bill provides triggers to stop exports if gas prices increase or if our economy is adversely affected,” Manchin said in a press release.
Environmental groups strongly oppose the change, saying it would be a big step backwards in mitigating climate change.