Rubio: Priority No. 1 is lifting U.S. oil export ban

03-Sep-2015

OKLAHOMA CITY, Sept. 3 (UPI) -- Lifting a ban on U.S. crude oil exports will bring "immediate" economic stimulus to the economy, Republican presidential contender Marco Rubio said.

Sen. Rubio, R-Fla., addressed supporters in Oklahoma, saying one of the first things he'd do if elected president would be to lift the 1970s era ban on exports of domestic crude oil.

"President Nixon signed it into law in the 1970s -- long before the economy had been fundamentally transformed by globalization and technological innovations, long before the hydraulic-fracturing and shale revolutions had launched a new era of American energy," he said. "Lifting the crude-oil export ban will be an immediate boon to our economy."

The American Petroleum Institute, which represents the interests of the oil and gas sector, last month called on presidential candidates to outline their platforms in what industry supporters describe as the era of U.S. energy abundance. (by Daniel J. Graeber, UPI)

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