October 9, 2015
Press Release

Washington, D.C. – U.S. Representative Mimi Walters (CA-45) today spoke on the floor of the U.S. House of Representatives in support of H.R. 702, To Adapt to Changing Crude Oil Market Conditions. H.R. 702 passed in the U.S. House today by a vote of 261-151.

Click the photo above to see Rep. Walters speak on H.R. 702

Said Rep. Mimi Walters, “Mister Speaker, I rise today in support of H.R. 702 – legislation that would lift the 40-year-old ban on U.S. oil exports.

“In 1975, President Gerald Ford signed the ban into law in response to gasoline shortages and the Arab oil embargo. While the ban served a purpose nearly 40 years ago – much has changed since that time.

“Today, we need an energy policy that aligns with our current economic and political climate. The United States is the largest petroleum and natural gas producer in the world. Our self-imposed export ban doesn’t make sense, and does nothing but hinder economic growth.

“If the ban is lifted this year, over 57,000 new supply chain jobs would be created in my home state of California by 2018.  And nationwide, nearly 450,000 new jobs would be created. Having the option to put U.S. crude oil on the world market would benefit Americans.

“Lifting the ban would create jobs, strengthen the U.S. economy, and help reduce our trade deficit. It would also provide the international marketplace with more options, in turn, limiting the ability of energy commodities to be used as political weapons.

“It is important to note that this bill doesn’t require the U.S. to export crude oil.  It simply provides the option needed for barrels to be used in the areas where they are needed most. I urge my colleagues to support this common-sense legislation.

“Mister Speaker, I yield back.”

Walters represents California’s 45th District and sits on the House Transportation and Infrastructure and Judiciary Committees.