WASHINGTON (Sputnik) — The bill must now go to the US Senate for a vote.
Scalise urged the senators to quickly pass the legislation. "Lifting our nation’s outdated ban on crude oil exports will grow America's economy and create a million jobs nationwide," he stated in a press release.
US President Barack Obama has threatened to veto the bill, arguing that now is not the time to repeal the oil export ban, and it would run contrary to the US policy of reducing fossil fuel consumption.
Congressman Joe Barton, the sponsor of the legislation, said on the House floor that the United States could produce up to 20 million barrels per day in contrast to the present 9 million barrels per day.
"US oil can go anywhere in the world if we allow it to, that is an economic asset, it is a military-strategic asset," Barton said.
