Rush Introduces H.R. 3306 — POWER Cuba Act of 2015
WASHINGTON — Today, U.S. Representative Bobby L. Rush (D-Ill.) called for continued action to further U.S. relations with Cuba. Rush introduced H.R. 3306, the POWER Cuba Act of 2015. The POWER Cuba Act would authorize the export of energy resources, energy technologies and related services to Cuba. Recent actions to improve diplomatic relations between the U.S. and Cuba such as restoring full diplomacy and the reopening of the Cuban Embassy in Washington are steps in the right direction. Rush’s bill would do more to help spur commerce and help bring Cuba into the 21st Century.
“The end of trade restrictions could generate a new market for many types of supplies and services from the United States energy industry,” said Rush. “My bill would promote market access for the efficient exploration, production, storage, supply and distribution of energy resources to our neighbor 90 miles off the coast of Florida. This would include the exportation of crude oil, as well as American technology and technical assistance in developing Cuba’s clean and renewable energy sectors.”
According to the U.S. Energy Information Administration, the United States is the world’s number one producer of oil. Lower prices for U.S. crude oil, compared to international prices, record levels of crude oil in storage, and restrictions on crude oil exports have been cited as contributing factors that may affect future production growth. Yet, there is a market for U.S. crude oil in addition to other energy resources, energy technologies and services.
“There are several positive economic benefits associated with passing this legislation,” Rush stated.