House Panel Passes Bill to Repeal US Oil Export Ban

A bill to repeal the 40-year-old ban on U.S. crude oil exports was passed on Thursday by the House of Representatives energy panel.

The legislation, which passed 31 to 19, is opposed by President Barack Obama. It is expected to be passed by the full House in coming weeks. A similar bill in the Senate faces an uncertain future as backers need several Democrats to support it.