WASHINGTON, D.C. - American Petroleum Institute President and CEO Jack Gerard thanked House members who voted to end the 40-year-old crude oil export ban.
"Today was a big win for the American people that made history with a strong bipartisan vote. House lawmakers showed leadership by strengthening our nation's energy future," said Gerard. "We now look to the Senate to follow suit. Lifting the crude export ban will lead to job creation, economic growth, improved balance of trade, and help keep downward pressure on gasoline prices for consumers.
"The U.S. is now the world's largest producer of oil and natural gas, and Americans are enjoying an energy renaissance that has produced abundant supplies of domestic energy resources. With the administration's push to allow Iran to export its oil to the global market, it's time for U.S. producers to have the same opportunity. Our allies around the world are eager to reduce their reliance on energy from less friendly nations," said Gerard.
API thanked the bipartisan leaders in the House for their efforts to pass this legislation.
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