This week, Karen Kerrigan president & CEO of the Small Business & Entrepreneurship Council weighed into the crude oil export debate reiterating the well-known fact that pro-growth policies like exporting crude oil exports will be a boon for communities and small businesses across the country. In an op-ed published in The Washington Examiner, she wrote,
“The reality is that America’s oil and gas sector is overwhelmingly comprised of small and medium sized businesses. In fact, among the five key energy sectors SBE Council examined in our report, employer firms with fewer than 20 employees comprised 58 percent to 91 percent of total firms in the industry. Unfortunately, red tape, political pandering and a lack of education about energy exports is keeping opportunity out of reach. Current government policies and delays that limit exports of natural gas and crude oil restrict investment and production. That limits small business’s economic and employment growth.”
The chorus of voices supporting this policy change has become larger and louder. And this message of tremendous domestic benefits to Americans as a result of exports is only one of the many reasons it is time we give the 1970’s their policy back. A recent report by ACCF also cites another major reason we should be exporting our abundant resources – national security. By limiting our exports of crude oil we are missing an opportunity to create a stable and more secure energy market for both ourselves and some of our most important trading partners.
As Kerrigan concluded, “We compete in a global economy, and our vast energy resources allow us to leverage our innovative know-how to meet global demand. Doing so will strengthen our economy and bolster our standing as the world’s energy leader.”