I want to compliment you and all the people that have worked on it. I am extremely pleased with what is in the draft.
I have introduced a bill that would repeal the current ban on crude oil exports.
I am pleased that we are beginning our discussions with an area I believe we can all embrace and that is jobs and the economy.
My bill is a very simple bill. It is a page long. It repeals the ban on crude oil exports that was first established back in 1975.
If we repeal the ban, Mr. Chairman, on crude oil exports that discount disappears.
There is absolutely no health benefit to this proposal.
The only certainty would be that electricity rates would go, reliability would go down, and there would be routine blackouts.
This is not a health-based rule. It is not a rule based on a real economic science.
If we were to repeal the ban on crude oil exports, we would allow U.S. producers to sell their oil to any willing buyer whether it was domes...
U.S. oil production is increasing. It is over 10 million barrels a day and going up at least for the time being.
This is a win-win. It is a win for the consumer. It is a win for the producer.