The House Energy and Commerce Committee plans to vote on two major energy bills later this week: a bill to lift the ban on oil exports and a broader energy package.
“This week will mark an important milestone in our pursuit of policies that say yes to energy,” said Republican energy committee Chairman Fred Upton of Michigan.
The committee announced its agenda Monday evening, saying both bills will be voted on Thursday.
“It is time for our energy policies to catch up to our new era of abundance,” Upton said. “These two bills will help create jobs, keep energy affordable, boost production and improve energy security — all areas that should achieve broad bipartisan support.”
The broader energy bill, the North American Energy Security and Infrastructure Act of 2015, includes four titles: “modernizing energy infrastructure; 21st century workforce; energy security and diplomacy; and energy efficiency and accountability.” An amendment is expected to be issued ahead of the markup hearing on Wednesday.
The second item on the agenda is a bill to lift government restrictions on oil exports that were established in the 1970s after the Arab oil embargo. The bill would change the 40-year-old ban on exports in favor of increased oil production from shale. The use of hydraulic fracturing, known as fracking, has made the U.S. the world’s biggest producer of oil.
Detractors say the bill would increase gasoline prices in the U.S., but a recent study by the Energy Information Administration, the Energy Department’s independent analysis wing, said it would reduce prices. Proponents of the bill say the study makes the case for moving the legislation as soon as possible.
A House energy subcommittee approved the bill by voice vote last week, moving it to the full committee for consideration. If approved Thursday, the bill would move to the House floor.
The Senate energy committee voted a similar bill out of committee at the end of July.
