Comstock Statement On Lifting The Crude Oil Export Ban
October 9, 2015
Press Release
Congresswoman Barbara Comstock (R-VA) released the following statement today after the House passed H.R. 702, To adapt to changing crude oil market conditions, by a vote of 261 to 159.
“The United States is now among the top oil producing nations in the world and lifting this self-imposed ban will bring us back into the competitive global oil markets. This bipartisan piece of legislation will lower gas prices, create hundreds of thousands of jobs, and unleash economic growth. Now is the right time to lift this self-imposed ban and compete in the global economy.”
H.R. 702 lifts the 1970s era, self-imposed crude oil export ban and will generate $1.4 billion for the federal government over the next ten years.