Wednesday, September 10, 2014

Crude oil exports

A former Obama administration official is among those behind a pitch to lift America's ban on crude oil exports. A newly released study claims the move would lead to lower world oil prices, and cheaper gasoline for Americans.

Good idea?

A big concern I have is that such a move might lead to U.S. refineries moving offshore. What would stop refiners from relocating to places with far less stringent environmental rules, and with far lower prevailing wages, if they knew the U.S. supply of crude oil would follow?

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