Why importing and exporting oil makes sense

The United States now leads the world in oil production, surpassing Russia and Saudi Arabia. Yet the United States still imports about 7 million barrels of crude oil each day, causing some to question why we should repeal the ban on exporting American crude oil. The answer to that question is fairly simple. First, there […]

Why American crude oil is selling for less than it’s worth

It seems simple. Our country produces crude oil that cannot be economically refined into products. Other countries have the capability to process this oil. So, what is stopping the U.S. from selling our crude oil to these markets? An outdated policy dating back to the 1970s. Outdated ban A 40-year-old ban is keeping the U.S. […]

Opening additional markets for U.S. crude oil will benefit consumers

As prices at the gas pump go up, the money in Americans’ pockets decreases, while lower prices per gallon mean more disposable income for Americans. One method to consistently decrease these prices could provide consumers with up to $5.8 billion in additional disposable income per year by exporting U.S. crude oil, according to research by […]

Lifting the crude oil ban would reinvigorate U.S. economy

National fiscal policies may seem to have little effect on the average American family. Yet the economy’s direction, whether negative or positive, influences everyday decisions about consumer purchases, including what groceries to buy. As the national conversation on U.S. crude oil exports continues, it is undeniable that exporting U.S. crude oil would grow the nation’s […]