US crude oil export bans no longer make sense, says new Columbia University report

January 19, 2015 |

In New York, the Columbia University Center on Global Energy Policy has released a report assessing the implications of lifting the U.S. restrictions on crude oil exports and the first since the oil price collapse. The report finds that the original rationale for the export ban no longer applies and that easing current U.S. export restrictions would likely increase U.S. oil production and lower gasoline prices.

According to the report, “while energy security concerns are often cited as a rationale for export restrictions, the report finds that easing export restrictions would make the US more resilient to global oil supply disruptions, not less, and would, at the margin, enhance US credibility in trade talks, strengthen American diplomatic leverage, and weaken the geopolitical power of other major producing countries.”

The report, Navigating the U.S. Oil Export Debate, is a collaboration between the Center and the Rhodium Group.

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