Washington, D.C. – Producers for American Crude Oil Exports (PACE) executive director George Baker issued this statement following the introduction of the American Crude Oil Export Equality Act by Senators Heidi Heitkamp (D-ND), Lisa Murkowski (R-Alaska), Joe Manchin (D-W.Va.) and Bob Corker (R-Tenn.):
“At its core, this bipartisan legislation would put Americans to work, save consumers at the gasoline pump and provide our trading partners and allies a secure and reliable source of energy.
“The American Crude Oil Export Equality Act would, for the first time in over 40 years, allow domestically produced crude oil to be exported to global markets. With a surplus of high-quality light crude oil trapped in the United States – and willing buyers abroad – this legislation and similar proposals like it have come at the right time to sustain the domestic energy renaissance. It will also support our allies and trading partners who are seeking to diversify their energy supplies.
“PACE looks forward to working with the cosponsors of this proposal and the growing coalition of state and federal officials, foreign policy and national security experts, economists and others who recognize the broad economic and geopolitical benefits of overturning this outdated policy.”
About PACE: Producers for American Crude Oil Exports (PACE) is a coalition of 16 independent exploration and production companies advocating for repeal of the outdated 1975 law that prohibits the sale of domestically produced crude oil to customers outside the United States. PACE is committed to sharing fact-based information with policymakers, the media, and the public about the geopolitical advantages and substantial economy-wide benefits of allowing U.S. producers to sell crude oil on the global market. Learn more at www.OilExports.com.