Congresswoman Fletcher Leads Letter to President Biden Discouraging Ban on Crude Oil Exports
This week, Congresswoman Lizzie Fletcher (TX-07) and Congressman Marc Veasey (TX-33) sent a letter to President Biden opposing recent calls to reinstate a ban on crude oil exports.
The letter advocates for the benefits of domestic oil production and outlines its impacts on the national economy. The letter outlines how banning U.S. exports would discourage domestic production, further limiting global supply and eliminating American jobs. It could also lead to a reduction in domestic and international refining capacity and place unnecessary stress on the global supply chain.
“Here in Houston, we understand the complex global energy market because we are leaders in all forms of energy, including the exploration, transportation, and refining of oil and gas products,” said Congresswoman Fletcher. “It is important to share our perspective that an export ban would be counterproductive to efforts to lower gasoline prices and to ensure our energy independence, and I am glad to partner in this effort with Rep. Veasey.”
“I was proud to vote for the year end spending package in 2015 that included a historic agreement that lifted the crude oil export ban and extended several clean energy tax credits” said Congressman Marc Veasey. “This common sense agreement represented a win-win for my home state of Texas. That is why I am joining on to this letter with Rep. Fletcher because rolling back that agreement would be unwise, especially when oil is a commodity with prices tied to a complex and dynamic global market.”
Full text of the letter can be found here.