JEFFERSON CITY — State Sen. Wayne Wallingford, R-Cape Girardeau, today issued the following statement relating to lifting the energy export ban on crude oil. During the waning days of the 2015 congressional session, members of Congress included in a major tax and spending bill the lifting of a ban on exporting crude oil products produced in the United States. This action by Congress repeals legislation that passed over 40 years ago at a time when oil production in this country was scarce and fuel prices were at an all-time high. In today’s economy, America has become the leading producer of oil and natural gas thanks to the industry’s investment in technology and job creation. Aside from the obvious economic benefits of permitting additional exports of U.S. products, this legislation enhances the security of our nation and our allies overseas that rely upon a source of these products for security reasons.
“I wanted to inform Missourians of this important development because we have major U.S. defense installations in our state,” Wallingford said. “This congressional action opens opportunities for our overseas allies to purchase U. S. produced crude oil products. It simply makes sense to provide these resources from a country that supports a common democratic system of government.
“This action, which was signed into law by President Obama, will result in job creation in the United States, put downward pressure on gas prices for our citizens and lower our trade deficit overall. As a veteran concerned with all issues that relate to our national security, I want to thank Congress for this action.”
Swnator Wayne Wallingford
Missouri Senate, District 27
Missouri Chairman of Vets4Energy