The house of representatives of the U.S. Congress approved the lifting of the ban on oil exports

The house of representatives of the U.S. Congress approved the lifting of the ban on oil exports


WASHINGTON, December 18. /Corr. Ivan Lebedev/. The house of representatives of the U.S. Congress approved the lifting of the ban on exporting American oil, operating for over 40 years. This measure is included in the total bill on the Federal budget for the 2016 fiscal year, which will now be reviewed by Senate.

It is expected that he will also vote in favour of lifting the ban on oil supplies to foreign countries. In support of this initiative are Republicans the majority in both houses of Congress.

It is possible that the vote in the Senate will be held on Friday, and then the bill will go to President Barack Obama.

Forty-year ban

A ban on the supply of crude oil from the US abroad, in the form of Federal law, in force since 1975.

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This legal act was prepared after the establishment of the Arab States embargo on oil supplies to Western countries in 1973. Natural gas abroad, US companies can supply only under licences issued by the government. American firms are free to supply to other countries coal and petroleum products, including gasoline. Last year the EU openly acknowledged that Brussels is seeking from Washington in the framework of the transatlantic free trade area start exporting oil and gas to Europe.

Over the past two months, the house of representatives twice voted for the Republicans presented a bill lifting the ban on exporting American oil, but the initiative in both cases was not supported by the Senate.

“It is not the policy that we support, but it will not prevent the President to sign the bill”

U.S. President Barack Obama still supports a negotiated on Capitol hill a proposal to repeal the ban on oil supplies from the US abroad, but batch is ready to sign the budget bill can become part of this initiative. This was stated on Wednesday at a regular press briefing White house press Secretary Joshua Ernest.

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“It is not the policy that we support, but it should not prevent the President to sign the bill,” – said the official representative of the American administration.

According to Ernest, “we (the Executive branch of the USA – approx. correspondent.) still not supported” is a requirement to lift the ban on the unrestricted sale of American oil to other States. However, the objections of the US administration on this issue are essentially “procedural” in nature, said the representative of Obama. As he said, the U.S. government believes that it already has powers in certain circumstances, to allow the export of oil. “We believe that (new) legislation is not necessary”, – said Ernest.

In this regard, he recalled that “the United States will export 4.3 million barrels of refined petroleum products per day”. In addition, reservations in current U.S. law allows domestic companies to deliver abroad “500 thousand barrels of crude oil per day,” added White house press Secretary.

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Oil prices for 30 years

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