What As Scalise should, after all it was his legislation that ended the oil export ban. He blasted out an email to supporters touting his role in ending the export ban.
U.S. oil exports doubled in some months this year compared with 2016, The Wall Street Journal reported Wednesday (June 7). That led U.S. Rep. Steve Scalise, R-Jefferson, the House majority whip, to re-promote his 2015 crusade to lift the 40-year-old ban on crude oil exports.
“American oil exports are emerging as a disruptive new force in global markets. The U.S. exported 1 million barrels of oil a day during some months so far this year — double the pace of 2016 — and is on track to average that amount for all of 2017,” The Journal said in a subscription-only story, citing its own analysis of data from the U.S. Energy Department and the International Trade Commission.
Supporters of lifting the export ban believe that it could create jobs in the battered domestic energy sector. For the past few years, Louisiana’s energy sector has been shedding jobs as it deals with low energy prices.
The U.S.’s entry into the oil export market could serve as a geopolitical counterweight to the OPEC countries and Russia. It could be a step of eventually weaning Europe off of more unstable energy providers such as the Middle Eastern countries and hostile ones such as Russia.
Of course lifting the oil export ban could have never happened without the fracking revolution and more energy conservation in the U.S. Those two things have freed up American oil to be exported instead of being consumed.
What this means is hopefully this will put America’s oil workers and the communities they support back to work. If that happens, then Congressman Steve Scalise can really give himself a round of applause.