U.S. oil exports reach record highs even as America remains reliant on Middle Eastern oil

Washington (April 26, 2018) – Senator Edward J. Markey (D-Mass.), a member of the Environment and Public Works Committee, released a statement today following the release of new data showing that exports of U.S. crude oil have reached new record highs since the ban was repealed. Last week, the United States exported 2.33 million barrels of oil a day – the highest rate in 25 years. In 2018, the United States continues to import nearly 3.7 million barrels of oil a day, including nearly 2.7 million barrels a day from OPEC nations, such as Iraq and Saudi Arabia. Gasoline prices have also recently risen to $2.80, an increase of 20 percent since President Donald Trump took office. The four-decade crude oil export ban was repealed in 2015.

“By exporting a record amount of U.S. oil overseas, Big Oil and President Trump are putting the interests of nations like China ahead of American consumers, national security, and our economy,” said Senator Markey. “By exporting record amounts of US crude oil overseas we’re exporting money out of the pockets of American consumers. Our oil should stay here to fuel American energy independence, not sent abroad to super-charge oil companies’ profits. Lifting the crude oil export ban in 2015 was the wrong move for consumers, our environment, our national security, and our economy. I will continue to fight to ensure that this wrong-headed policy is reversed.”

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