WASHINGTON, D.C. – Dan Eberhart, Canary CEO, attended the Senate Energy and Natural Resources Committee hearing this morning. The Senate hearing invited witnesses to give testimony regarding the U.S. crude oil export policy, which followed the hearing held in December 2014 by the House Energy and Commerce subcommittee on Energy and Power.
“I thought the expert witnesses did a fantastic job explaining the benefits of lifting the ban,” said Dan Eberhart, an outspoken advocate of lifting the crude oil export ban. “Overall, I thought the hearing demonstrated the long list of pros outweigh any cons.”
Senator Lisa Murkowski (R-Alaska) chaired the hearing. Sen. Murkowski was one of the first lawmakers to take a stand towards lifting the ban. The witnesses providing testimony included executives at oil and gas companies, as well as fellows at several energy research and policy organizations.
These industry experts argued that more jobs, increased GDP, national security and support of the free market are among the benefits of lifting the ban. They argued that the current ban is simply outdated.
Charles T. Drevna, President of American Fuel & Petrochemical Manufacturers, in regards to the forty-year-old law asked if an energy policy based on the current abundance could be created.
“Colorado Senator Cory Gardner asked an insightful question yesterday about what happens if we don’t lift the ban,” said Eberhart. “We will have a glut of crude with nowhere to go. Oil and gas companies will no longer have an incentive to keep producing, so we’ll start losing jobs. The current shale boom has helped create 1.7 million of them.”
Although Senator Maria Cantwell (D-WA) did not outright voice opposition for lifting the ban, she did raise concerns. One of Sen. Cantwell concerns was if the U.S. would be “exporting away our energy security,” which is the concern of many citizens against lifting the ban and the reason that the U.S. has a ban in the first place.
“One of Sen. Cantwell’s concerns is safe transportation of the products,” said Eberhart. “However, that’s why we need Keystone and more pipelines in general.”
About Canary, LLC
After ten acquisitions and seven decades, Canary, LLC, is now the largest private wellhead service company in North America and one of Inc. Magazine’s 5000 fastest growing U.S. companies. Canary serves its clients and the public through quality drilling and production services, local charitable endeavors, and educational campaigns concerning our nation’s energy policies. Check out Canary at canaryUSA.com, fb.com/canaryconnects, or @CanaryConnects