U.S. Senator Lisa Murkowski (R-AK) today responded to reports that the U.S. Department of Energy is considering a ban on U.S. crude exports.
“There was a reason I led the effort to lift the decades old, failed policy of a ban on the export of oil. Domestic crude oil production allows the U.S. to participate in global markets, creating jobs and opportunities for Americans, and helping our friends and allies. It was after the ban was lifted that the U.S. shifted to a position of true energy strength, allowing us to help balance the world oil markets. In fact, according to a 2015 analysis by the U.S. Energy Information Administration, the export of crude oil actually reduces domestic gas prices. Returning to a ban on oil exports is short-sighted and should not even be entertained as a response to the higher gas prices we are seeing right now. This is a knee jerk notion that will undercut our economic competitiveness, cause job loss across a valuable sector of our economy, weaken our national security and our ability to support our allies. The administration needs to walk back this idea as quickly as it was floated."
Original source can be found here.
