Senator continues call to follow existing law and precedent, reject efforts to weaken or repeal ban from export proponents

Boston (August 14, 2015) - The U.S. Commerce Department today is conditionally approving small, temporary oil swaps with Mexico allowed under the 40-year old crude oil export ban. The Commerce Department also announced rejection of applications to swap oil with other foreign countries because the requirement in regulation that companies demonstrate a compelling technological or economic reason why the oil cannot be marketed in the U.S. was not met.

Senator Edward J. Markey (D-Mass.), a member of the Commerce, Science and Transportation Committee, released the following statement.

“Today’s action by the Commerce Department to approve a small, temporary swap of oil with Mexico shows that there is already sufficient flexibility under the U.S. oil export ban and that this longstanding law that protects American consumers, businesses and our national security should not be weakened or repealed. I also commend the Commerce Department for rejecting the oil industry’s attempts to expand the limited swaps provided for under regulation to other foreign countries when it was not economically or technologically justified. I will be asking the Commerce Department for the complete details of today’s actions and will closely review them to ensure that our economy and national security are protected. I will also continue to vigorously fight all efforts by Big Oil to pump up their profits by rolling back this law which protects American consumers at the pump.”

In June, Senator Markey and 12 Senators urged President Obama not to lift the longstanding ban on exporting American crude oil. In the letter, the senators point to the harm consumers, businesses and national security would face if the ban is repealed.