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Crude Economics
The Case for Ending the US Oil Export Ban Weakens
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  • Andrew Allison

    The oil export ban is insupportable regardless of the WTI-Brent differential. It’s purpose was to conserve US supplies and we now have oversupply. It’s only purpose today is to depress US prices.

    • Kohlhaas

      We do not have an oversupply. The United States produces about 9 1/2 million barrels per day, uses about 16 1/2 million, and imports about 7 million. One can pick at nits about what goes to Canada and refinery balances but those are the numbers. What are we going to do? Export oil and then import it back into the country at a higher price?
      Helping allies who will not help themselves is futile. Europe has made itself a charming museum but as an ally, it is irrelevant. European energy policy amounts to hand-wringing, fantasies about windmills, bans on drilling and fracturing its own wells, and generally whining about what the US is not doing in their behalf. Not someone for whom we should deplete our resources.

      • Andrew Allison

        Short answer: US production is light sweet, there’s NO light sweet being imported, and well are being capped because there’s no place to store the oil.

  • Boritz

    There is this concept called “free trade” which would allow traders to decide what they wanted to do. Unless there is concern that they would foolishly sell low internationally instead of higher domestically and a law should be in place to keep them straight should their attention wander and they forget they are supposed to be exercising enlightened self-interest then lifting the ban would not cause a huge problem and would allow flexibility to respond to changing markets.

  • http://www.librarything.com/profile/Bretzky1 Brett Champion

    No, the case for ending the export ban hasn’t weakened. It’s as strong as ever. Both liberty and a free market demand that the government stay out of the way of businesses and individuals who are freely engaging in commerce.

  • Jacksonian_Libertarian

    The Government Monopoly’s interference in the free market is always a bad thing. Whenever the Government Monopoly tries to pick winners and losers in the market place, they always distort the market and create inefficiencies which permanently set the market’s advancement back.
    “Compounding Growth is the Greatest Force in the Universe” The Einstein Strategy = Any action or policy which reduces Growth, permanently removes that lost growth from being Compounded. So doing everything possible to maximize Growth is the most Powerful Strategy in the Universe. It is the “Feedback of Competition” which forces continuous improvements in Quality, Service, and Price in free markets. So free markets maximize Growth and engage the most Powerful Force in the Universe.

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