Bill 118 H.Con.Res. 17, titled "Expressing the sense of Congress that the Federal Government should not impose any restrictions on the export of crude oil or other petroleum products," was introduced in the House of Representatives on January 3, 2021.
The purpose of this bill is to convey the opinion of Congress that the Federal Government should refrain from placing any limitations or regulations on the export of crude oil and other petroleum products. The bill argues that allowing for the free trade of these products will benefit the economy and promote energy independence.
Supporters of the bill argue that restrictions on the export of crude oil and petroleum products hinder economic growth and limit the ability of the United States to compete in the global market. They believe that lifting these restrictions will create jobs, increase revenue, and strengthen national security by reducing reliance on foreign oil.
Opponents of the bill, however, express concerns about the environmental impact of increased oil production and exports. They argue that lifting restrictions could lead to greater carbon emissions and exacerbate climate change.
As of now, Bill 118 H.Con.Res. 17 is still in the early stages of the legislative process and has not yet been voted on by the House of Representatives or the Senate. It is important to note that this bill only expresses the opinion of Congress and does not have the force of law.