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US lifts oil export ban -- now what?


Sunday, October 18, 2015

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Kelly Cunningham, National University System
Answer: NO

Prices dropped largely because U.S. production nearly doubled over the past six years. Further increases in U.S. exports on world markets should bring global prices down a bit more. The export ban designed to insulate the U.S. economy from the effects of supply disruptions and other factors affecting prices was and remains fundamentally flawed. Eliminating the ban will create more U.S. jobs and further drive gasoline prices down by encouraging more domestic crude oil production.