Rep. Paul Cook Votes to Lift the Ban On Oil Exports
WASHINGTON- Today, Rep. Paul Cook (R-Apple Valley) voted for HR 702, a bill that would lift the ban on crude oil exports and help promote both national and energy security. This bill passed the House with bipartisan support.
The ban on crude exports was put in place in 1975 in response to the Arab oil embargo. HR 702 lifts the ban on exports and directs that some of the profits from federal oil and gas leases be used to improve our military’s strategic sealift and global response capability. According to the Congressional Budget Office, this bill will generate $1.4 billion in revenue for national security over the next ten years from oil and gas leases. The bill will also lower gasoline prices by as much as 13 cents per gallon.
Cook said, “Lifting the ban on crude oil exports is good for the country. This bipartisan legislation will lower gasoline prices for Americans and create jobs. It also enhances our national security by weakening countries like Iran and Russian. If the President is going to enter into an agreement to with Iran to export oil, then he should support the US exporting oil.”