Congressman Brad Sherman Introduces Bill to Halt U.S. Oil Exports, Shield Americans from Price Spikes Amid Iran War

May 7, 2026 Press Release WASHINGTON, D.C. — Today Congressman Brad Sherman (CA-32) introduced the Stop Oil Exports to Lower Gas Prices Act to protect American consumers from rising energy costs and economic instability by halting exports of U.S.-produced crude oil during the ongoing war with Iran. America produces more oil than we use and is a net exporter of both petroleum and refined products. If we prohibit exports, the supply will exceed the demand, and prices for American consumers will drop. Currently, American oil is going to Europe and Asia to replace Middle East oil, reducing the domestic supply and raising the prices Americans pay. “During this period of international instability, we have a responsibility to use all available tools to defend American families and our economy,” said Congressman Sherman . “This bill prioritizes consumers by directing our energy resources toward lowering costs here at home instead of allowing companies to chase higher profits at the expense of American consumers,” Sherman added. The legislation would prohibit U.S. crude oil exports until (1) the President certifies that hostilities with Iran have ceased and (2) the Strait of Hormuz is fully reopened to global commerce. The bill would implement a targeted export ban designed to stabilize domestic energy markets, reduce inflationary pressure, and prioritize U.S. supply during a period of international crisis. It also includes limited flexibility for cases where certain crude oil cannot be efficiently refined domestically, allowing narrowly tailored export licenses provided that refined products are returned to the United States. Recently, Congressman 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. In his letter to Trump, 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. “Suspending crude oil exports during the Iran War is a lawful, targeted, and necessary step,” Sherman added . “American oil should first and foremost benefit the American people, who continue to suffer from the affordability crisis cause by President Trump’s reckless policies.” To read Sherman’s letter to Trump, click here . To view bill text, click here . ### Issues : Consumer Protection Economy Taxes and Trade Energy Independence Foreign Policy Trade