Petroleum Association Supports Lifting U.S. Crude Export Ban

Akron Beacon Journal

By BOB DOWNING

From the Independent Petroleum Association of America today:

WASHINGTON, D.C.– The Independent Petroleum Association of America (IPAA) and a coalition of energy trade associations sent a letter to Senate Energy and Natural Resources Committee Chairman Lisa Murkowski (R-Alaska) and Senator Heidi Heitkamp (D-N.D.) in support of their bipartisan legislation S. 1312, the “Energy Supply and Distribution Act of 2015,” which was introduced in the Senate today. The legislation seeks to lift the 1970’s ban on U.S. exports of crude oil, which is critical for U.S. energy security, economic growth, increased investment in free trade, and new American jobs.

“As representatives of the Nation’s oil industry, we want to express our strong support for your newly-introduced ‘Energy Supply and Distribution Act of 2015.’ Growing U.S. production of shale formation oil and natural gas creates economic opportunities that have not existed for over five decades. Artificial limits on market options could restrict U.S. benefits. Exports have a key role in keeping the development of U.S. production on course,” the coalition wrote in the letter. “Much like the export of gasoline and diesel fuels from American refineries now helps keep refining jobs in America, oil exports will enable the U.S. to invest in more American shale crude development and keep those good jobs here.”

Read more…

Comments are closed.