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House Vote Means Oil Industry Win

Fuel Fix reports that “the House passed legislation authorizing widespread crude exports on Friday, delivering a major victory to energy companies lobbying for the freedom to sell oil around the world.”  

“But their success may be short-lived, because getting the trade policy change through the House was actually the easy part. The real test is in the narrowly divided Senate, where stand-alone export legislation is unlikely to advance and supporters are mulling an array of strategies — and potential deals — to advance their cause some other way.”  

“In the 261-159 House vote Friday, 26 Democrats joined 235 Republicans to support the legislation, which would undo 40-year-old trade restrictions that block most raw, unprocessed U.S. crude from being sold outside the country. Nine Democrats abstained. Six Republicans voted no, including some with home-state refining interests: Michael Fitzpatrick of Pennsylvania, Walter Jones of North Carolina, Frank LoBiondo of New Jersey, Patrick Meehan of Pennsylvania, Tom Rice of South Carolina, and Chris Smith of New Jersey.”  

The Associated Press adds: “Lifting the export ban would lower prices at the pump, create jobs and boost the economy, said House Speaker John Boehner, R-Ohio.”  

“’In my view, America’s energy boom has the potential to reset the economic foundation of our economy and improve our standing around the world,’ Boehner said.”

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