Adaptation to Changing Crude Oil Markets

Floor Speech

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Mr. CHABOT. Mr. Chairman, I have the honor of leading the House Small Business Committee. A few months back we held a hearing on this very topic. We heard from small businesses about how this ban is holding them back. That is the untold story of this. This ban is hurting small businesses all across this country.

America is now the largest producer of oil and gas in the world. Lifting this decades-old ban is an opportunity to jump-start the economy. It would help 1 million Americans find work. It would increase the GDP. It would narrow the trade deficit, attract new capital to the U.S., and stabilize the global energy supply.

If America is going to lead the world in the 21st century, let's not keep one hand tied behind our back. Let's replace outdated energy policies with ones that are forward-thinking, ones that will create new jobs in a new American century.

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