The White House said senior advisors would recommend that US President Barack Obama veto a House bill to remove restrictions on exports of domestically produced crude oil if the measure reached his desk. “Legislation to remove crude export restrictions is not needed at this time,” the Office of Management and Budget said in a formal administration policy statement on Oct. 7. “Rather, Congress should be focusing its efforts on supporting our transition to a low-carbon economy,” it continued. “It could do this through a variety of measures, including ending the billions of dollars a year in federal subsidies provided to oil companies, and instead investing in wind, solar, energy efficiency, and other clean technologies to meet America’s energy needs.” OMB issued the statement as HR 702 appeared headed for a House floor vote on Oct. 9. “Domestic oil production has grown in recent years, strengthening our economy, supporting new […]