- Not enactedThe President has not signed this bill
- The house has not voted
- The senate has not voted
Committee on Banking, Housing, and Urban AffairsIntroducedMay 21st, 2018
- senate Committees
Oil exports make American customers more vulnerable to price shocks, and cause U.S. consumers to pay more at the pump. Banning U.S. oil exports will help shore up the Strategic Petroleum Reserve (SPR), an important protection against international price shocks.
It’s bad for both consumers and producers to ban U.S. oil exports: producers need access to international markets when they have too much oil to sell domestically, and consumers need access to international oil, which has different characteristics from U.S. oil.