Concessions needed to lift oil export ban: H. Clinton

Hillary Clinton says concessions from U.S. oil and gas industry are needed to lift the ban on U.S. crude oil exports

Concessions needed to lift oil export ban: H. Clinton
The U.S. Democratic presidential candidate Hillary Clinton announced Friday that the 40-year-old self-imposed ban on U.S. crude oil exports should not be lifted unless concessions are made from the oil industry. 

"In general, in the absence of a broader energy plan that does include concessions from the oil and gas industry, I don’t think the ban should be lifted," Clinton was quoted saying by U.S. media. 

"I’m not against it [the ban] under all circumstances," said the former Secretary of State, but did not elaborate on the concessions she proposed. 

While the U.S. oil industry wants the ban to be removed in order to export the excess amount of domestically produced oil to overseas, lifting the ban became a wide political debate in the U.S. during the past week. 

The U.S. House of Representatives' Majority Leader Kevin McCarthy, a Republican from California, announced Tuesday that the House is expected to hold a vote before the end of September to remove the ban. 

Senate Majority Leader Mitch McConnell, a Republican from Kentucky, announced Wednesday that he supports McCarthy, and called the ban "a relic of the '70s."

On Thursday, the U.S. House of Representatives Energy and Commerce Committee approved legislation to lift the ban, while the bill is expected to be considered by the full house later this month. 

Full committee Chairman Emeritus Joe Barton, a Texan Republican who introduced the bill with Henry Cuellar, a Texan Democrat, were joined by Republicans Ed Whitfield and Fred Upton on Thursday that support the removal of the ban so far.

 Meanwhile, Republican presidential candidate Donald Trump said in his speech in Dallas, Texas earlier this week that the ban should be removed as he said "We can be the number one energy producer in the world. But we have archaic laws."

On the other hand, the White House announced Tuesday that the Obama administration is against the removal of the ban, saying the American people's interests are better served if the U.S. pursues investments for solar, wind, and renewable energy solutions. 

In addition, the U.S. refineries, environmentalists and some consumer groups oppose lifting the ban. Refineries fear losing their profit margins to oil producers, while environmentalists are concerned that removal of the ban would pave the way for more domestic oil production, and consumer groups argue that lifting the ban would increase domestic gasoline prices for the public. 

The U.S. Congress placed a ban on exporting domestically produced crude oil during the 1970s with a series of legislation after oil producing Arab nations' embargo against the U.S. in 1973 threatened American energy security and revealed the country's dependence on foreign oil resources. 

Anadolu Agency
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