White House issues veto threat for US House oil export bill

By REUTERS
October 8, 2015 00:27
1 minute read.

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

The White House issued a veto threat on Wednesday for a US House of Representatives bill that would lift a four-decade-old ban on crude oil exports, saying the legislation was "not needed at this time."

Congress should instead end "the billions of dollars a year in federal subsidies provided to oil companies" and invest in wind, solar and other renewable energy projects, the White House said in a statement about the bill, which is expected to face a vote in the full House on Friday.

Two similar bills have passed committees in the Senate, but backers are struggling to find enough Democrats for the legislation to pass the full chamber.

Oil company interests and other backers of repealing the ban say the domestic drilling boom will eventually choke on a glut of crude if it is not lifted.

George Baker, the head of Producers for American Crude Oil Exports, or PACE, said that lifting the ban "will help level the playing field and allow America to compete on the international stage," and that it would create jobs and aid trading partners abroad.

Opponents of lifting the ban say increased drilling would harm the environment and that it would hurt jobs in refining and ship building.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
October 22, 2018
Moscow wants U.S. to explain planned exit from arms treaty - RIA

By REUTERS