Crude oil export ban bill gaining momentum in U.S. House.

By  | 

Washington D.C. Ever since the mid-1970’s, there’s been a ban on most U.S. crude oil exports spurred on by massive oil shortages.

Now with those shortages in the rear-view mirror—some lawmakers are trying to lift that ban.

One of those lawmakers is North Dakota Congressman Kevin Cramer. He says one of the problems when this bill was introduced over a month ago was educating other members on why this ban needs to be lifted—now he says the bill has over 100-bi-partisian co-sponsors.

Those for eliminating the export ban say this will lower your gas prices and create thousands of new jobs.

“That’s a lot of new jobs, and that’s not just in the oil patch, that’s the supply chain, that’s up and down—that affects all 50 states and it affects a lot of the trades,” said Cramer.

Cramer says he hopes Congress can pass this bill before the August recess.

One of the ways Cramer says to do that is possibly attach it to the highway bill—which some lawmakers say is a must-pass bill.

Some opponents of lifting the crude oil export ban questions whether this will really lower gas prices. Some oil refiners are against this saying removing the ban could hurt their profits, shipping more oil overseas.