This is a two edged sword, if passed. One it would help our trade deficit, countries who need oil but could also raise the price of oil in the U.S.

The House overwhelmingly approved a bill Friday that would lift the 40-year-old ban on exporting U.S. crude oil, a restriction that critics say hurts job creation and U.S. national security.

The House approved the bill on a bipartisan 261-159 vote. However, the White House has threatened to veto the bill should it make its way to the president’s desk, calling it unnecessary and arguing that the decision rests with the commerce secretary. MORE