Blackburn Votes to Spur Economic Growth & Energy Security
Congressman Marsha Blackburn (R-TN) today issued the following statement on passage of H.R. 702, legislation that would lift the decades old ban on exporting crude oil.
“H.R. 702 is common sense legislation that will help promote our energy security, economic security and national security. There is bipartisan agreement that lifting the ban on crude oil exports will boost our energy production, create thousands of jobs for hardworking Americans, lower prices at the pump, and weaken countries like Iran and Russia, who use oil as a political weapon to hold power over the United States.
“Not only does this bill help strengthen our energy security, it strengthens our national security by directing some of the $1.4 billion generated in profits over the next 10 years to improve our military’s seapower and global response capability.
“The four decades old ban on exporting crude oil was outdated policy that needed to be updated to reflect current realities,” Blackburn said.