Posted July 7, 2015
The Growing Case for Ending the Crude Oil Export Ban
Roll Call (Reps. Joe L. Barton and Henry Cuellar) – The advantages of lifting the ban on crude oil exports are not just theoretical talking points discussed in the halls of Congress, but rather supported by a large and growing body of research by government agencies, academic institutions and think tanks across the political spectrum. The latest is a study released by the Harvard Business School and the Boston Consulting Group. It highlights the obvious benefits lifting the ban will have on American families and businesses, our economy and global allies.
The study discusses the changing U.S. energy landscape and the opportunities made possible by America’s new energy abundance. The fear of a crippling dependence on foreign oil that existed in the 1970s, when the export ban was put in place, is no longer applicable today. In fact, the U.S. is now the world’s top petroleum producer largely due to our recent ability to produce oil and natural gas from shale formations. The world has changed drastically in the past 40 years and it is time for our policies to accurately reflect the current conditions in which we now live. We must embrace the United States’ new leading role on the world energy stage and recognize the value it would create in our everyday lives.
This point is emphasized in the HBS and BCG study, which recommends “eliminating outdated restrictions on gas and oil exports” that are “based on circumstances in the 1970s that since have been reversed.”
The study also highlights the economic benefits of lifting the ban, providing further data and research that should help alleviate the concerns of those who continue to support the status quo.
Read more: http://bit.ly/1S5LNcX
More industry news:
- Refracking Is the New Fracking: http://bloom.bg/1eCnmXU
- IEA – OECD Energy Production Reached New High in 2014: http://bit.ly/1eClRJ2
- Russia Seen as Biggest Oil Market Loser When Iran Comes Back: http://bloom.bg/1eCjJBe
- Wave of New Federal Oil and Gas Mandates in the Works (subscription req’d): http://bit.ly/1J2lUWR
- Opinion – Saudis’ Targeting of Market Share Does Not Appear to be Working: http://bit.ly/1LQddDX
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.