Senator Lankford: It’s time to remove barrier for domestic energy production
OKLAHOMA CITY, OK – Senator James Lankford (R-OK) today released the following statement on U.S. House passage of legislation (HR 702) to lift the ban on U.S. crude oil exports. The bill passed with a vote of 261-159:
“The House’s strong bipartisan vote to lift the ban on oil exports sends a powerful message that the American people want policies that will provide more jobs and a stronger economy. Oklahomans know that a consistent energy market means consistent energy jobs. Responsible and safe crude oil exports should not be blocked due to extreme ideology. The time is right to remove this antiquated barrier for domestic energy production.”
After the White House signaled opposition to the bill last month, Lankford said, ” It is ridiculous that President Obama fights so hard to help Iran export their oil through the Nuclear Agreement, but opposes American energy exports. How can the President argue that it is good for Iran to export oil, but it is bad for America? When America fails to lead the world in energy, other nations, like Russia, step into world dominance.”
In May, Lankford co-sponsored the Energy Supply and Distribution Act of 2015, the Senate companion bill to end the ban on crude oil exports. According to the nonpartisan Congressional Budget Office, lifting this ban will generate $1.4 billion in revenue to the federal government over the next 10 years from oil and gas leases. The ban on crude oil exports was put in place in 1975 in response to the Arab oil embargo, and is no longer necessary.