Bill to lift crude exports passes US Senate banking committee but trickier votes are ahead

Bill to lift crude exports passes US Senate banking committee but trickier votes are ahead

The Senate version of the bill aiming to repeal a longstanding US ban on crude oil exports passed another stage on Thursday, getting through the Senate banking committee, according to Reuters.

However the progress of the legislation is in doubt because of the addition of an amendment by a Republican Senator which would demand Iran compensate American victims of alleged Iran-backed terror attacks.

The provision will probably alienate Democratic Senators from supporting it.

Its passage was already in doubt after the White House indicated it would exercise its veto should the bill reach the president’s desk but that was relating to other matters.

Now the Iran terror provision, added by Senator Pat Toomey of Pennsylvania, looks likely to scupper chances of bipartisan support for the bill when it goes to the full chamber.

The US oil export ban was instituted in the 1970s in reaction to the Middle East-led oil crisis of that era.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

Related Posts