A project of the American Council for Capital Formation (ACCF), Unlock Crude Exports is a campaign dedicated to ensuring America’s vast energy resources benefit American consumers and the nation’s economy through crude oil exports.
The United States is now a world leader in energy production. Our nation’s refined oil – mainly gasoline and diesel – is exported without restriction, yet due to an export ban put in place in 1975 we were restricted from exporting our abundant crude oil itself. However in December 2015, Congress lifted the ban allowing American to benefit in the economic, geopolitical and price-related positive impacts. To date, the U.S. crude oil has encompassed the globe, reaching foreign allies in Europe, South America, and Asia.
But the fight does not stop with crude. If our leaders will embrace an all-of-the-above energy policy to match today’s energy reality, our economy, job creation, and U.S. competitiveness will be strengthened with our trade deficit and gasoline prices predicted to fall.
While it may take an outreach and education program to help policymakers and the American public understand that the U.S. is now an energy player rather than a pauper, the challenges can be overcome. The path forward is as easy as working with our lawmakers to pass bills before Congress or an executive order from the President.
The United States must not waste our newfound geopolitical strength and the domestic benefits of being a top energy producing nation.
About the American Council for Capital Formation (ACCF)
Founded in 1973, The American Council for Capital Formation (www.accf.org) is a nonprofit, nonpartisan organization advocating tax, energy, regulatory and environmental policies that facilitate saving and investment, economic growth and job creation. Find out more at: http://accf.org/about-us