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Lifting the export ban

Old 09-01-2015, 08:33 PM
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Default Lifting the export ban

http://www.newsmax.com/Newsfront/oba.../01/id/673112/

I definitely want to see the ban lifted entirely! What does the THT brain trust have on this issue?
Old 09-02-2015, 03:43 AM
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There seems to be building, non-partisan support for lifting the ban. But no one believes it will make much difference in oil prices, especially in today's deflationary oil market.
Old 09-02-2015, 04:29 AM
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Hmmm.

When that ban was passed 40 years ago, the US was a net oil importer. Exporting oil made little sense. We still import oil- 6 times as much as 40 years ago. Why export, just so we need to import more?

We allowed the export of refined petroleum products (mostly diesel fuel) and that drove the price of diesel fuel way up in the USA until the current oil glut came along. I'm curious why the authors of that report think exporting crude oil will result in no gasoline price change or even a small reduction.

I'm also thinking about how quickly we got into the current glut and how quickly a new Middle East shooting war will end the glut.
Old 09-02-2015, 06:21 AM
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Agree there is no benefit to the country to export a product that we're importing at the same time. Not an isolationist but we should not be exporting raw materials like a third world country. We need balanced trade without relying on tariffs that only raise consumer costs.

I have no issue with exporting refined oil products within reasonable limits or limiting exports to only those made from imported crude.

Our goal should be energy independence but making money off of other countries use would be good for our economy as long as it doesn't negatively our costs for fuel.
Old 09-02-2015, 06:46 AM
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From I have heard ,Back in the good old days, oil companies got out of paying some of the taxes on the oil they exported. then just brought it back to the states in the same ship after awhile

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