12.11.15

Hoeven Advocates for Lifting Oil Export Ban at Hearing

Experts Testify Lifting Ban Will Strengthen U.S., Allied Security

WASHINGTON – At a hearing of the Energy and Natural Resources Committee on Terrorism and Global Oil Markets today, Senator John Hoeven advocated for lifting the crude oil export ban, saying it will make the nation and our allies safer as we confront global terrorism. That view was supported by expert witnesses from leading think tanks who testified at the hearing.

Hoeven has repeatedly called for repealing the ban and is working hard to get the repeal included in the year-end legislation.

“Lifting the ban on oil exports is important for our country and will help improve our national security by achieving energy security,” Hoeven said. “By helping to grow our oil and gas industry in this country, we create a stronger economy and more jobs, but we also produce more energy here at home and we’re able to help supply our allies with oil and gas, as well.”

Expert witnesses from the Atlantic Council, Rand Corporation, Center for a New American Security, and IHS, a global research company, affirmed that lifting the oil export ban would enhance national security. Representative of the general opinion was testimony by Dr. Sara Vakhshouri, Nonresident Senior Fellow Atlantic Council, who said that with the Middle East in turmoil and confronting terrorist attacks and threats, it’s important to have alternative resources, especially from the U.S.

Jamie Webster, senior director at IHS, said “We have put out a couple of studies on crude export issue and our finding is that this is a clear win for the U.S. economy and also for energy security. It’s difficult to find a case where this is not a positive.”