Friday, the House of Representative will vote on HR 702, legislation lifting the ban on U.S. crude oil exports. The ban is a relic of the energy crisis of the 1970’s and is out of step with the current boom in domestic petroleum production.
The crude oil from the American fracking revolution is not the optimum crude for domestic refineries. More gasoline will be produced in U.S. refineries at lower cost if we export domestically produced, light, low sulfur crude and import the crude oils our refineries handle most efficiently. More transportation fuels could be produced at lower cost, and prices at the pump for American consumers would actually go down. This will be good for motorists, for airlines, and for the economy.
I fully support lifting the ban on U.S. crude oil exports, and I will vote Yes on HR 702.
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