Floor Statement by Agriculture Committee Ranking Member Collin C. Peterson
H.R. 702

--As Prepared for Delivery--

“Mr. Speaker, I support removing restrictions on the export of crude oil from the United States and urge my colleagues to vote in support of H.R. 702.

“Current export laws are outdated. Since these laws were last visited, nearly 40 years ago, U.S. oil production has increased significantly. The United States is now the world’s largest oil producer.

“Studies have shown that lifting the current ban on crude oil exports would create jobs, many in rural areas. We have seen the benefits domestic drilling can provide in my neighboring state of North Dakota.

“We need to do everything we can to support the use and production of domestic energy. H.R. 702 is an important part of that. Following this bill’s approval, I hope all members of Congress will continue to support an all-the-above domestic energy production strategy by considering the national security and economic development benefits of not just oil production, but biofuel production and related policies.

“Again, Mr. Speaker, I strongly support H.R. 702 and yield back.”

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