Energy and Commerce Committee highlights increasing U.S. crude oil exports

The Energy and Commerce Committee (E&C) recently highlighted the United States’ growing crude oil export levels following the elimination of their ban as part of the 2015 year-end budget deal.

A recent U.S. Energy Information Administration (EIA) report noted that crude oil exports in 2017 were almost twice as high as in 2016 and that destinations for crude oil exports increase to 37 in 2017 from 27 in 2016. In 2017, the United States exported approximately 1.1 million barrels per day (b/d) of crude oil in 2017, according to the EIA.

In October 2015, the House advanced H.R. 702, which eliminated the ban on crude oil exports. The committee also added it to their energy bill, H.R. 8, which the House advanced in December of 2015. The provisions from H.R. 702 were ultimately passed as part of the 2015 year-end budget deal.

“The measure, which was included as part of the 2015 budget deal, was trumpeted by the committee as an opportunity to support job growth and strengthen America’s national security and geopolitical influence across the globe,” E&C said in a press release. “Two years later, we’re seeing the benefits of increased U.S. crude oil exports and in 2017, U.S. crude oil reached more destinations than ever before.”