US Democrats Question Stimulus from Oil Exports
U.S. House Democrats called for hearings to assess whether lifting a crude oil export ban would lead to lower energy prices.
U.S. legislation enacted in the wake of the Arab oil embargo in the 1970s restricts exports of crude oil produced in the United States. The increase in U.S. crude oil production from states like North Dakota has given some legislators reason to ask for a repeal of the ban.
Rep. Peter DeFazio, D-Ore., ranking member of the House Natural Resources Committee, and four of his counterparts sent a letter to Committee Chairman Doc Hastings, R-Wash., asking for a hearing on the potential consumer impacts of lifting the export ban.
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