Should the U.S. Export Crude Oil? Back to Blog

Mar 18

Wellreports

  • Created: Mon 7th Jan 2013
  • Erin

For the most part, America’s oil industry is in favor of lifting the current ban on exporting domestic crude oil production.  The ban was enacted during the 1970′s OPEC oil embargo. The American Petroleum Institute stated in a December, 2013 press release, “The American energy revolution has rendered our current export policies obsolete.” “Exporting a portion of our abundant crude oil supply would provide greater stability to the global supply while creating jobs and generating revenues stateside.” It’s interesting that those who oppose free trade in domestic oil production also criticize China for restricting the export of its country’s minerals. Would it be harder for OPEC and other exporting countries to push the U.S. around if we also exported?  Of course it would. Would it be harder for non-democratic countries to push around small democracies around the world if the U.S. was also an exporter of crude oil?  Of course it would. 

Add Comment

Daily Drilling Permits & Rig Reports // Access to 6+ years of Archives // Covering Texas, New Mexico, Oklahoma, Louisiana