Skip to comments.Oil export bill driving a wedge between industries
Posted on 10/08/2015 9:22:51 PM PDT by 100American
The group has watched the export debate, as any reduction in supply from exports could increase prices domestically. Some large manufacturers have warned that any policy that increases the cost of energy could move U.S. companies overseas.
Cicio said he would support the bill if it did not repeal the president's authority. "We should not be so short sited," he told the Washington Examiner. Oil prices currently are low, but "in the future it can become a very significant cost issue for manufacturing."
"All we need is an adjustment" to the bill to keep the safety valve in place, he said. "We shouldn't throw out the baby with the bath water."
Other groups, however, have no problem with eliminating the president's authority. The National Association of Manufacturers, the largest trade association representing U.S. manufacturing, came out in support of the bill Thursday.
The group sent a letter to members of Congress urging them to support the bill. They say the legislation helps "to adapt to changing crude oil conditions" given the U.S.'s position as the world's largest oil and natural gas producer.
(Excerpt) Read more at washingtonexaminer.com ...
We do NOT need ME Oil!!
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