The Democrats H﻿ouse has threatened to veto a House of Representatives bill to lift the ban on oil exports after today . A statement issued by the White House urged House of Representatives to instead end federal subsidies to oil companies, which cost the billions of dollars a year and instead invest this money in renewable energy projects. A vote is expected in the full House today . Lucy Nicholson , the Head of Producers for American Crude Oil Exports (PACE), said that lifting the ban would create jobs and mean the US could compete on an international stage. However, ﻿﻿critics of lifting the ban argue that it would increase drilling, cause more damage to the environment and harm jobs in refining and ship building industries.
The White H﻿ouse has threatened to veto a House of Representatives bill to lift the ban on oil exports after four decades. A statement issued by the White House urged Congress to instead end federal subsidies to oil companies, which cost billions of dollars a year and instead invest this money in renewable energy projects. A vote is expected in the full House today. George Baker, the Head of Producers for American Crude Oil Exports (PACE), said that lifting the ban would create jobs and mean the US could compete on an international stage. However, ﻿﻿critics of lifting the ban argue that it would increase drilling, cause more damage to the environment and harm jobs in refining and ship building industries.