Lawmakers voted 261-159 in favor of lifting the ban on Friday, with 26 Democrat lawmakers joining 235 Republicans in the vot. However, they were 55 votes short of being able to override a presidential veto. President Barack Obama has promised to reject the proposal if it were to pass Congress.
Debate on the issue now moves to the Senate, where the measure faces a sharp hurdle to passage and needs Democratic support to get it over the 60-vote hurdle to end debate on the issue.
The White House has said that Congress should instead "be focusing its efforts on supporting our transition to a low-carbon economy."
The House measure has the backing of oil and gas corporations, who argue that lifting the ban would create jobs and stimulate more US petroleum production. Already, US production has increased 80 percent since 2008 and helped drive down the global price of oil to half of what it was in the summer of 2014.
"An extra dollar or two for the price of our product today is very important because our margins are incredibly squeezed," Doug Suttles, the chief executive of Encana, a Canadian company that pumps oil and gas in the US, told the Wall Street Journal
More than a dozen oil companies, including Hess Corp, ConocoPhillips and Encana, formed a coalition to press the matter with Congress for over than a year, the Wall Street Journal reported.
"This is a vote to level the playing field for US workers and businesses who should be allowed to compete against foreign oil suppliers like Iran and Russia," George Baker, executive director of the coalition of more than a dozen oil companies, which also includes Marathon Oil Corp and Apache Corp, told the Journal.
1/3 of ISIS funds come from oil; remainder from taxes, 'confiscations' - report [VIDEO] https://t.co/HtDl5anciK @ManilaChan
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Comment: The U.S.'s only interest in passing this legislation is controlling and dominating the oil industry. See: