Energy Scorecard

This week, Congress will consider H.R. 8, the House energy bill. Known as the “Architecture of Abundance,” this legislation aims to tackle numerous energy-related issues. An amendment offered by Reps. Barton, Cuellar, McCaul, Flores, and Conaway would lift the current ban on oil exports. Doing so would repeal a costly, outdated government program and promote affordable and reliable energy. Allowing oil exports will lower energy prices for American families, increase America’s economic competitiveness, and enhance our country’s energy security. The American Energy Alliance urges all Representatives to vote yes on the Barton oil exports amendment.

The oil export ban is an outdated and economically damaging policy. Innovations in hydraulic fracturing and horizontal drilling have created an American energy renaissance driven by production increases on state and private lands. Since 2008, U.S. oil production has increased more than 80 percent, according to the Energy Information Administration. In 2014, domestic oil production hit a 30-year high. Increased domestic production has resulted in lower gasoline prices for American families, with prices falling to $2.04 per gallon nationally.

Studies show that ending the oil export ban would reduce domestic oil prices. U.S. oil exports on the world market would increase the overall supply of oil in the world, thereby decreasing global and domestic oil prices. The Brookings Institution found a potential 9 cents per gallon drop in gas prices. IHS estimates lifting the ban could lower gas prices by 8 cents per gallon, and an industry study estimates removing the export ban could result in up to $5.8 billion in reduced consumer fuel costs from 2015-2035.

This amendment seeks to improve the American energy economy by lifting restrictions and damaging policies that harm American families. The American Energy Alliance urges all Representatives to vote YES on the Barton, Cuellar, McCaul, Flores, and Conaway amendment to H.R. 8.