[Congressional Record Volume 161, Number 150 (Tuesday, October 13, 2015)]
[Extensions of Remarks]
[Page E1475]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]





                ADAPTATION TO CHANGING CRUDE OIL MARKETS

                                 ______
                                 

                               speech of

                            HON. BRIAN BABIN

                                of texas

                    in the house of representatives

                        Friday, October 9, 2015

       The House in Committee of the Whole House on the state of 
     the Union had under consideration the bill (H.R. 702) to 
     adapt to changing crude oil market conditions:

  Mr. BABIN. Mr. Chair, I rise in strong support of H.R. 702, 
legislation by my friend and Texas colleague Congressman Joe Barton to 
lift the ban on American exports of crude oil.
  Lifting this outdated and unnecessary ban on crude oil exports is a 
win for Texas and America. It opens up billions of dollars of new 
economic opportunity for American companies, which will create 
thousands of good paying jobs. It will help to stabilize the price of 
energy on the world market, making sure that gasoline and electricity 
remains abundant and affordable for hardworking families across 
America. And South East Texas is uniquely positioned to be at the 
center of it all, with the Port of Houston and other facilities in our 
area uniquely suited to lead America into this new market.
  Unfortunately, and predictably, the Obama Administration has 
threatened to veto this bipartisan bill once it passes the House and 
the Senate. This is the same Administration that just led the way on a 
deal to lift the crude export ban that has been in place on the Islamic 
Republic of Iran, a terrorist sponsoring regime that will use the 
proceeds from selling crude oil to finance terror and mayhem throughout 
the world. Americans deserve better treatment from their President than 
he is giving to terrorists in Iran, and I believe that if he vetoes 
this bill, we will override that veto.

                          ____________________