PACE Welcomes Legislation on Crude Oil Exports

Washington, D.C. – George Baker, executive director of Producers for American Crude Oil Exports (PACE), released the following statement in response to legislation introduced today by Senators Lisa Murkowski (R-Alaska) and Heidi Heitkamp (D-ND) that would allow crude oil produced in the United States to be exported – providing crude oil the same trade status as gasoline, diesel fuel, coal, and natural gas liquids:

“PACE is very pleased with the introduction of the Murkowski-Heitkamp Energy Supply and Distribution Act of 2015. At its core, this bi-partisan legislation would put American workers and energy producers on a level playing field with their competitors around the world, while providing meaningful benefits to consumers and our economy. Allowing domestically produced crude oil to compete on the global market would create and protect hundreds of thousands of jobs, spur additional investment here at home and generate considerable economy-wide benefits for our country. It would also put downward pressure on the price of gasoline for consumers.

“A robust body of research – from think tanks across the political spectrum, academia and government agencies – reflects the fact that consumers, our allies and trading partners as well as our overall economy benefit from allowing crude oil to be exported from the United States. The American energy renaissance has played a key role in our economic recovery. It is time to embrace our abundant domestic energy resources and leverage them to their full extent by changing a decades old policy that does not reflect today’s energy reality.”

Note: This morning, PACE, the Independent Petroleum Association of American (IPAA), American Petroleum Institute (API), U.S. Oil and Gas Assoc. (USOGA), American Exploration & Production Council (AXPC) and the U.S. Chamber of Commerce signed a joint letter in support of Murkowski-Heitkamp Energy Supply and Distribution Act of 2015. Click here for a copy of the letter.

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