PACE Welcomes Sen. McConnell’s Support on Crude Oil Exports  

 

Washington, D.C. – Producers for American Crude Oil Exports (PACE) executive director George Baker issued the following statement responding to Senate Majority Leader Mitch McConnell’s support for ending the decades old ban on crude oil exports:

“With the House poised to vote on lifting the crude oil export ban this month, we welcome Leader McConnell’s support for ending the ban. With bipartisan support growing in Congress, we hope the White House will make ending the ban a priority and recognize this tremendous opportunity to make the United States a global energy superpower while helping American businesses and consumers here at home.”

Leader McConnell joins Speaker Boehner and a host of former cabinet and administration officials, think tanks and policy experts across the political spectrum and labor unions in calling for an end to the ban on crude oil exports.

Over the past twelve months, more than a dozen independent, non-partisan entities – including the U.S. Department of Energy – have studied how lifting the ban on crude oil exports would impact jobs and the economy, GDP, our balance of trade and gasoline prices in addition to the geopolitical and national security implications this change in policy would have on the U.S. These studies found that allowing crude oil exports to allies and trading partners is smart policy that will create and protect American jobs, not increase the price at the pump and strengthen our national security.

Continued Baker, “With EIA projecting that global oil demand will continue to increase, the U.S. – which has the most stringent and robust environmental standards of any oil producing country – needs to level the playing field and compete for this market share. We should give our allies and trading partners an option when sourcing their energy needs, especially when Iran is preparing to increase their crude oil exports once sanctions are removed.”

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