House Approves Measure To Allow Crude Exports

Date: December 04, 2015

Bill Would Also Expedite Process For LNG Export Permits

Reuters reported that the House on Thursday passed the North American Energy Security and Infrastructure Act on a 249-174 vote. The bill would repeal the ban on exports of crude oil, as well as help expedite the permitting process for liquefied natural gas export facilities. The Hill reported the bill was approved despite “a veto threat from President Obama.” It includes “provisions to speed up the permitting process for pipelines and energy projects,” and “to expand liquefied natural gas exports and hydropower,” as well as measures to increase “energy efficiency and maintain security and reliability of the electricity grid.” Democrats accused Republicans of having “packed the final version with too many provisions they couldn’t support.” E&E Publishing reports that on the House on Wednesday approved a number of amendments to its “far-reaching energy package,” including a provision that “allow international sales of [US] crude oil” and a provision that “would consolidate federal permit reviews of cross-border infrastructure projects that stalled the Keystone XL pipeline.” A number of proposals related to smart meters were adopted, including one that would “establish minimum privacy standards for the technology” and another that would require the Department of Energy “to study weaknesses in the ‘security architecture’” of the technology. There were 26 Democrats who joined with Republicans to approve the bill, the National Journal reported. A Senate Democratic leadership aide said that it would take “something big” for Democrats to agree to a lifting of the ban, such as long-term extensions of credit for developing renewable energy projects.

What This Means For Small Businesses

Small business owners should be able to let the free market decide when and where to sell their wares. Burdensome government restrictions have prevented oil and gas producers from selling their wares on the global market, and this has negatively affected growth of businesses large and small in the oil and gas industry. News of another House effort to repeal the crude oil ban may be a step in the right direction, but a threat of a White House veto means the issue remains uncertain.

Additional Reading

The AP also reported on the vote.

Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.

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