Note:  This week, the Senate Banking Committee voted to lift the ban on U.S. oil exports.  The committee defeated an amendment that would have eliminated the corn ethanol blending requirements under the federal Renewable Fuel Standard.  Sen. Chuck Grassley advocates for an all-of-the-above energy policy that treats all forms of energy fairly.  He made the following statement in advance of the committee action.

Floor Statement of Senator Charles E. Grassley
Oil Export Ban
Delivered Wednesday, September 30, 2015


Tomorrow morning, the Senate Banking Committee is scheduled to mark up legislation called the “American Crude Oil Export Equality Act.”  
 
This bill would repeal the four-decade ban on the export of domestically produced crude oil.  
 
This ban was put in place in response to the Arab oil embargo, which created an energy crisis and led to fears of crude oil shortages.  
 
The recent technologies of horizontal drilling and fracking of oil shales has resulted in enormous increases in domestic crude oil production and reduced oil and gas prices.  
 
This has led to the domestic oil industry’s insistence on repealing the export ban.
 
I’m all for fair and free trade.  I recognize that Iowa’s manufacturers and farmers benefit from export markets.  
 
One of every five tractors produced by John Deere is exported.  Much of Iowa’s agricultural abundance, both commodities and livestock, is exported.  
 
I understand the economic impact that vibrant export markets can have on the domestic economy, on job creation, and on productivity.
 
What bothers me is not that Big Oil is on the cusp of achieving their highest priority, in getting Congress to pass a bill to repeal the export ban.  
 
What bothers me is that Big Oil is pushing Congress to repeal the ban while at the same time continues to attack and undermine domestic renewable fuels.
 
Iowa doesn’t produce any crude oil or natural gas.  But, Iowa’s farmers lead the nation in the production of homegrown, renewable, clean ethanol and biodiesel.  
 
Congress created the Renewable Fuel Standard to guarantee that consumers have a choice to buy clean, renewable fuel.  
 
Big Oil has fought tirelessly to repeal and undermine the law, because they’re afraid of the competition.
 
If Big Oil wants to get the export ban lifted, I’d suggest they end their selfish pursuits to repeal the RFS.   
 
Big Oil should be satisfied with achieving their highest priority -- a repeal of the export ban -- and drop their crusade against clean-burning biofuels.
 
It’s time for Big Oil to stop acting like pigs at the trough.  It’s time for Big Oil to lay off the Renewable Fuel Standard.
 

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