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 . James Baker , the Head of Producers for American Crude Oil Exports ( PACE ) , said that lifting the ban would create jobs and mean the industry could compete on an international stage . George Baker, the head of Producers for American Crude Oil Exports, or PACE, said that lifting the ban “will help level the playing field and allow America to compete on the international stage,” and that it would create jobs and aid trading partners abroad. However , ﻿﻿critics of lifting the ban say 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 . James Baker , the Head of Producers for American Crude Oil Exports ( PACE ) , said that lifting the ban would create jobs and mean the industry could compete on an international stage . However , ﻿﻿critics of lifting the ban say that it would increase drilling , cause more damage to the environment and harm jobs in refining and ship building industries .