Bismarck, N.D. – The vote in the United States Senate and House of Representatives to lift the ban on crude oil exports will strengthen the nation’s national security, keep energy prices low for consumers and help add stability to an otherwise volatile commodity market said Ron Ness, president of the North Dakota Petroleum Council.
“The petroleum sector has been an enormous contributor to North Dakota’s economy and employment base for decades, leading to lower tax rates for residents and lifting salaries and income across the board,” said Ness. “Yet, growth has been hampered by a decades-old policy that forbids us from exporting oil to our allies while countries that fund terrorism have held a monopoly on the market.
“While it won’t bring immediate relief to crude oil prices, lifting this ban will provide long-term benefits and stability to our state and nation. North Dakota may finally have the opportunity to export our quality crude to our nation’s allies, lending greater stability not only to oil and fuel prices, but to global politics.
“We want to thank Sen. Hoeven, Sen. Heitkamp and Congressman Cramer for their long-time support of this legislation and their leadership and hard work to help get the job done.”
About the North Dakota Petroleum Council
Since 1952, the Petroleum Council has been the primary voice of the oil and gas industry in North Dakota. The Petroleum Council represents more than 600 companies involved in all aspects of the oil and gas industry, including oil and gas production, refining, pipeline, mineral leasing, consulting, legal work, and oil field service activities in North Dakota, South Dakota, and the Rocky Mountain Region. For more information, go to www.ndoil.org.