Railroad Commissioners Applaud Congressional Action to Overturn Crude Oil Export BanDecember 18, 2015
AUSTIN -Railroad Commissioners today released the following statements on Congressional passage of legislation overturning the decades-old federal ban on crude oil exports.
Chairman David Porter said, “"My fellow Railroad Commissioners and I have worked hard to overturn the ban, whether it be appearing before Congress, the Texas Legislature, or educating decision-makers in Washington that lifting the ban would unshackle the U.S. energy sector and further enhance our nation’s stature as a global leader in energy. This ban is a relic of a bygone era that stifles competition and the potential for American job creation. Lifting the ban will finally allow American energy producers to compete on a level playing field in the international marketplace. This is a victory for both the Texas and U.S. economies."
Commissioner Christi Craddick said, “Lifting the antiquated U.S. crude oil export ban will be monumental for Texas oil producers long-term and an important tool for our country overall. The ability to export U.S. oil opens international markets to sales of our Texas energy resources, makes West Texas Intermediate crude price-competitive, provides greater stability and growth for our Texas oil and gas industry, and creates jobs here at home. Beyond Texas, oil exports will stimulate our national economy, boost national security, and extend a hand to our allies as we provide them a friendly, stable source of American energy.”
Commissioner Ryan Sitton said, “Lifting the crude export ban is critically important to Texas oil producers who are currently struggling with depressed commodity prices. Oil is bought and sold in a global marketplace, and it made no sense that Iran could export its oil but Texas producers could not. I’m disappointed that the oil export ban was not a stand-alone piece of legislation and that the Obama Administration held it hostage all year. This ban should have been lifted in a more responsible way a long time ago, but president Obama prevented that. Nevertheless, I appreciate the hard work of the members of Congress who fought to lift the ban so our Texas energy producers can compete on a level playing field.”
About the Railroad Commission:
Our mission is to serve Texas by our stewardship of natural resources and the environment, our concern for personal and community safety, and our support of enhanced development and economic vitality for the benefit of Texans. The Commission has a long and proud history of service to both Texas and to the nation, including almost 100 years regulating the oil and gas industry. The Commission also has jurisdiction over alternative fuels safety, natural gas utilities, surface mining and intrastate pipelines. Established in 1891, the Railroad Commission of Texas is the oldest regulatory agency in the state. To learn more, please visit http://www.rrc.texas.gov/about-us/.