Source: United States House of Representatives – Congressman Brad Sherman (D-CA)
WASHINGTON, D.C. — Congressman Brad Sherman (CA-32) today urged President Donald Trump to immediately halt exports of U.S.-produced petroleum during the ongoing hostilities involving Iran in order to protect American consumers from rising energy prices and economic disruption.
“Higher oil prices may benefit the largest oil companies, but they function as an unavoidable tax on American families,” said Congressman Sherman. “When energy prices spike, the cost of gasoline, transportation, food, and manufacturing all rise. At a time of international conflict and economic uncertainty, our priority should be protecting American consumers—not maximizing export profits for multinational oil producers.”
In a letter sent to the President today, Congressman Sherman warned that escalating tensions with Iran have pushed oil prices higher and created volatility in global energy markets, placing growing pressure on American households, workers, and businesses.
Sherman called on the President to use existing statutory authority to temporarily pause petroleum exports and prioritize domestic supply.
Sherman noted that under the Consolidated Appropriations Act of 2016, the President has authority to restrict crude oil exports during a national emergency or when exports would cause sustained material adverse employment effects in the United States.
Sherman pressed President Trump to immediately exercise this authority and pause U.S. petroleum exports until hostilities with Iran cease and global energy markets stabilize.
Sherman emphasized that such action would help shield American consumers from unnecessary price increases, reduce inflationary pressure, and ensure domestic energy supplies remain available during a period of global instability.
“Temporarily suspending crude oil exports is a lawful, targeted, and necessary step,” Sherman added. “America’s energy resources should first and foremost benefit the American people.”
To read the full letter,click here.
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