WASHINGTON (Sputnik) — The bill passed out of Committee with bipartisan support and will be taken up by the full House of Representatives later this month, according to an Energy and Commerce Committee press release.
The repeal of the 40-year-old export ban would give "[US] allies around the world the opportunity to import American oil instead of Russian or Iranian oil," the Committee press release reported.
Bill sponsor and Committee Chairman Joe Barton stated that US oil exports will enable the United States to "use our abundant resources for the highest and best causes," including supporting allies, and becoming a leader in global energy markets.
On Tuesday, the White House stated that it does not support the Republican-led efforts in the House to repeal the oil export ban.
President Barack Obama has repeatedly encouraged greater energy diversity in the United States, focused on renewables, rather than increasing dependence on fossil fuels.
