Ellmers hails first U.S. export of crude oil in 40 years

U.S. Rep. Renee Ellmers (R-NC) recently praised last week’s first crude oil exports from the United States in 40 years.

“Somewhat overshadowed by the start of a new year, is an important feat that hasn’t occurred in nearly 40 years: the U.S. officially began the unrestricted export of crude oil to our allies and foreign countries again,” Ellmers said. “This is one of the most significant changes in federal energy policy in years and was made possible because of the omnibus spending bill passed by Congress shortly before Christmas.”

Following the ending of the 40 year ban of crude oil exporting from the United States, the tanker Theo T left Corpus Christi, Texas, on Dec. 31, while the tanker Angelica Schulte is scheduled to leave by the end of the week.

“Lifting the ban is expected to create upwards of one million American jobs and inject an additional $170 billion into our economy each year,” Ellmers said. “This is particularly important to national security as the U.S. can provide our allies with an alternative and reliable supply of liquid freedom. Furthermore, eliminating the oil export ban means that our allies are no longer dependent on aggressive nations like Russia or at the mercy of the oil cartel, OPEC. This is huge victory for every American.”

According to IHS Energy’s crude oil statistics, the additional crude oil supply generated by lifting the ban on exports will lower gasoline prices by an annual average of 8 cents per gallon.