US Should Repeal Oil Export Embargo - Senate Energy Committee

© AFP 2023 / Karen BLEIERAn oil well near Tioga, North Dakota
An oil well near Tioga, North Dakota - Sputnik International
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The US oil export embargo should be repealed while at the same time the President’s emergency authority to act preserved, US Senate Energy Committee Chairwoman Lisa Murkowski stated at the IHS CERAWeek in Houston, Texas, on Monday.

WASHINGTON (Sputnik) — IHS CERAWeek is the annual international gathering of energy industry and financial leaders, experts, government officials and policymakers, as well as energy technology innovators, according to the website on the gathering.

"I plan to introduce legislation that fully repeals our nation's outdated export ban while still preserving the emergency authority of the President," Murkowski said.

Murkowski explained that the United States’ ban on exports of domestic crude oil “equates to a sanctions regime against ourselves."

Murkowski also noted that lifting the embargo on export of US oil is especially timely because of the recently reached political framework agreement with Iran.

"The Iranian deal could, depending on the details, bring as much as one million barrels of Iranian oil on to the global market each day,” she said.

Murkowski concluded that the United States should not lift sanctions on Iranian oil while “we are keeping sanctions on American oil."

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