RoshawnMarkwees
Assimilationist
I won't argue against lifting the ban. But trying to use it as a reason for high oil prices completely missed the mark. The price has increased and decreased with fluctuations in supply and demand all the while that ban has been in place. The current overpricing is directly due to the green energy scam and Obama's resulting energy policy.I will take the Wall Street Journals interpretation before I do a partisan hack....Deflection.If Congress will lift the ban on oil exports(Nixon's law), they can export more oil and expand the market...Lots of people would like to make money off of oil. Expand the market. What's more, driving down the price frees up money across the board and that creates jobs and wealth and makes the economy snowball. It's Obama energy policy that has caused the opposite effect.You can only produce so much, everything else is surplus which drives the price down..No business man wants that....Obama underachievement; global oil demand at all time high, Obama drilling restrictions prevent sufficient supply.
Stop excusing the economy stifler with your dishonest partisan propaganda.
Congress must lift the ban on U.S. crude oil exports. The ban is a terrible relic of the Nixon era that harms the American economy. As Sen. Lisa Murkowski (R., Alaska) has pointed out, restrictions on oil trade effectively amount to domestic sanctions. Combined with a mismatch in refining capacity, the ban on oil exports is creating a significant discount for U.S. light oil at no benefit to anyone except refiners and their foreign ownership. It has cost U.S. states, producers and royalty owners $125 billion in lost revenue in four years, according to industry estimates.
America s Self-Punishing Oil Export Ban - WSJ
Supply drives the global price regardless of where it is or isn't transported.