The U.S. government has banned oil
exports since the energy crisis of the 1970s, but that could change
next year as Republicans take control of Congress and are backed by new
studies showing that repeal of the ban would actually lower gasoline
prices and be a surprising boon to consumers.
Sen. Lisa Murkowski, Alaska Republican and the expected new chairwoman of the Senate Committee on Energy and Natural Resources,
has been the leading proponent in Congress for ending the ban, arguing
that a sea change in the way oil and gas prices are determined in global
markets has turned it into a relic of a past era of fuel scarcity, one
that is increasingly harming the outlook for the nation’s booming shale
oil industry.
exports since the energy crisis of the 1970s, but that could change
next year as Republicans take control of Congress and are backed by new
studies showing that repeal of the ban would actually lower gasoline
prices and be a surprising boon to consumers.Sen. Lisa Murkowski, Alaska Republican and the expected new chairwoman of the Senate Committee on Energy and Natural Resources
,
has been the leading proponent in Congress for ending the ban, arguing
that a sea change in the way oil and gas prices are determined in global
markets has turned it into a relic of a past era of fuel scarcity, one
that is increasingly harming the outlook for the nation’s booming shale
oil industry.
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