U.S. Sen. Lisa Murkowski, R-Alaska, today testified before the Senate Banking Committee on the benefits of lifting the current ban on domestic crude oil exports. Today’s hearing before the banking committee reflects the latest in the growing consensus in Congress that our nation’s energy policies need to be updated to reflect the American energy renaissance.
“Ending the ban on oil exports is an opportunity for our nation to become an energy superpower – to send a signal to the world that we are ready to lead on issues of energy and the environment, to empower our allies and compete against our foes, to lift up our economy and create jobs while lowering gasoline prices and increasing domestic energy production,” Murkowski said. “The ban on crude oil exports is a relic of a bygone era and puts our nation so out of step with the modern global economy. We simply need action to lift the ban as soon as possible.”
Murkowski, chairman of the Senate Energy and Natural Resources Committee, has long supported ending the outdated ban on crude oil exports. To advance her efforts to lift the ban, Murkowski has authored multiple legislative initiatives, including the Offshore Production and Energizing National Security Act of 2015 that would authorize the export of all forms of crude oil and condensate produced in the United States.