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HCR 57 is a resolution which urges the United States congress to end current ban on crude oil exports. This ban was originally instituted in 1975 in response to the then-recent energy crisis. HCR 57 puts forth a number of reasons for why the ban should be lifted. These include noting the importance of the oil industry to the Texas economy, the outdated nature of the ban, geopolitical and national security benefits, and economic gains both in terms of both revenue and jobs.
Additionally, copies of this resolution would be sent to the President of the United States, the U.S. Secretary of Commerce, the U.S. Secretary of Energy, the majority leader of the U.S. Senate, the speaker of the U.S. House of Representatives, and all members of the Texas delegation to Congress.
Lifting the current ban on crude oil exports would indeed be a welcome change of United States policy; the reasons listed in the resolution being valid. More specifically, we support HCR 57 because of it would be an outstanding boon to free markets as the United States is the only major industrial state with such a ban in place. Allowing U.S. crude on the market would bring global crude oil prices significantly closer to the market rate.
Lifting the ban would also be a step in the right direction for property rights and would likely produce a number of secondary economic gains such as increased employment. This is particularly pertinent for Texas given the importance of the oil industry to this state.