U.S. House Subcommittee Passes Bill to Lift Oil Export Ban

WASHINGTON, Sept 10 (Reuters) – A invoice to repeal the U.S. ban on oil exports gained momentum on Thursday, when it handed a House of Representatives subcommittee, an intial step to overturn the 40-year-old commerce restriction within the full chamber.

The House Energy and Power subcommittee handed the invoice by a voice vote. The laws, sponsored by Republican Representative Joe Barton of Texas, is anticipated to go to a vote by the total Energy and Commerce committee subsequent week.

Passage by the total panel would set it up for a wider vote by the Republican-led House, the place it’s anticipated to move. The measure, nonetheless, nonetheless faces an uphill battle within the U.S. Senate.

Barton mentioned the vitality panorama has modified since 1975 when the ban was imposed and a repeal would supply jobs and assist allies diversify their oil provides.

The invoice is supported by oil producers who say they want entry to international markets to maintain the home drilling increase alive.

But a number of Democrats on the panel expressed reservations concerning the measure.

Representative Frank Pallone, a New Jersey Democrat, mentioned repealing the ban would result in a “significant pay day for oil producers,” but it surely was much less sure that it might profit U.S. shoppers and {that a} repeal would put oil refinery jobs in jeopardy.

Democratic Representative Mike Doyle of Pennsylvania mentioned repealing the ban would shift U.S. refinery jobs abroad.

Barton’s invoice has 123 co-sponsors within the 435-member House, with solely 14 Democrats signing on.

Backers of an identical invoice within the Senate, together with Senators Lisa Murkowski, a Republican from Alaska, and Heidi Heitkamp, a Democrat from North Dakota, must garner extra help for the laws to move.

A invoice sponsored by Murkowski, the chair of the Senate Energy Committee, handed in her panel in July, however no Democrats voted for it. Although Republicans additionally lead the Senate, the measure would wish help from at the least six Democrats to achieve the 60 wanted to move that chamber. (Reporting by Timothy Gardner; enhancing by Susan Heavey and G Crosse)