08.14.15

Hoeven Statement on Administration Approval of Oil Exports to Mexico

WASHINGTON – Senator John Hoeven today issued the following statement after reports that the U.S. Department of Commerce will approve applications to exchange light, sweet U.S. crude for heavier Mexican crude. In February, Hoeven and a bipartisan group of senators pressed the Department of Commerce to approve applications for exchanges with Mexico. The senator has been working to lift the 40-year old ban on the export of crude oil.

“The Administration has acted on our request and approved an exchange of crude oil with Mexico, which is a step in the right direction as we work to end the ban on U.S. oil exports,” said Hoeven. “We continue working to lift the crude oil export ban because it will create good-paying jobs for our citizens, enhance domestic production and help grow our economy. Additionally, oil exports will help to increase the global supply of crude, which will lower the price of gasoline and other fuels and put more money in consumers’ pockets.”

Hoeven and the Senate Energy Committee recently approved the Offshore Production and National Security (OPENS) Act, which lifts the ban on the export of crude oil. This legislation is similar to the Energy Supply and Distribution Act of 2015, which Hoeven helped introduce with Senate Energy Committee Chairman Lisa Murkowski (R-Alaska) in May. Hoeven said lifting the ban is supported by studies at the U.S. Energy Information Administration, the non-partisan Brookings Institute and the Harvard Business School.

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