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API applauds push for crude exports

Hydrocarbon Engineering,

The API has said that new legislation offered by Senator Heidi Heitkamp will help solidify bipartisan support for lifting the 1970s era restrictions on US exports of crude oil. The bill is cosponsored by Senate Energy and Natural Resources Committee Chair Lisa Murkowski, who introduced similar legislation last week, as well as Senators Joe Manchin and Bob Corker.

Louis Finkel, API Executive Vice President said, “bipartisan leadership on this issue keeps the focus on the consumers and workers that will benefit from free trade in crude oil. Senator Heitkamp’s bill will bring people together and help rally support for America’s growth as an energy superpower.

“Study after study shows that lifting outdated limits on crude exports will allow America to create more jobs, cut the trade deficit, grow the economy and put downward pressure on fuel costs. Exports will help keep US production strong in a tough market, and they will provide our allies with an important alternative to energy from less friendly regimes. The benefits are clear, and we applaud Senators Heitkamp, Murkowski, Manchin and Corker for working collaboratively to lift trade restrictions that have far outlasted any reasonable justification.”

Edited from press release by Claira Lloyd

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