Posted May 20, 2015
The Oil Export Ban Harms National Security
The Wall Street Journal (Leon Panetta and Stephen Hadley): The United States faces a startling array of global security threats, demanding national resolve and the resolve of our closest allies in Europe and Asia. Iran’s moves to become a regional hegemon, Russia’s aggression in Ukraine, and conflicts driven by Islamic terrorism throughout the Middle East and North Africa are a few of the challenges calling for steadfast commitment to American democratic principles and military readiness. The pathway to achieving U.S. goals also can be economic—as simple as ensuring that allies and friends have access to secure supplies of energy.
Blocking access to these supplies is the ban on exporting U.S. crude oil that was enacted, along with domestic price controls, after the 1973 Arab oil embargo. The price controls ended in 1981 but the export ban lives on, though America is awash in oil.
The U.S. has broken free of its dependence on energy from unstable sources. Only 27% of the petroleum consumed here last year was imported, the lowest level in 30 years. Nearly half of those imports came from Canada and Mexico. But our friends and allies, particularly in Europe, do not enjoy the same degree of independence. The moment has come for the U.S. to deploy its oil and gas in support of its security interests around the world.
Read more: (subscription req'd) http://on.wsj.com/1R3MSU4
More industry news:
- American Shale Firms are Now the Oil Market’s Swing Producers: http://econ.st/1LlJKzD
- Utah Joins Lawsuit Over New BLM Fracking Rule: http://bit.ly/1c4YoPk
- Shell CEO Defends Arctic Drilling, Environmental Record: (subscription req'd) http://on.wsj.com/1PWPO2v
- This Innovation Will Help U.S. Win Oil Price War: http://usat.ly/1Fo8xRG
- Shale Gas to Create 462,000 New Jobs in Plastic Manufacturing: http://bit.ly/1K1oCOh
ABOUT THE AUTHOR
Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.