- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

US Oil Export Ban Makes Little Sense in Global Economy -Chamber of Commerce

© REUTERS / Transportation Safety Board of Canada/Handout via ReutersTanker rail cars are seen lying on their side after a crude oil train derailment
Tanker rail cars are seen lying on their side after a crude oil train derailment - Sputnik International
Subscribe
The US ban on crude oil exports is an absurd policy in an era of globalization that should be lifted to spur economic growth, US Chamber of Commerce Energy Institute President Karen Harbert said at a press conference.

WASHINGTON (Sputnik) — US Energy Secretary Ernest Moniz said last week that advocated for lifting the ban have failed to put forth a sufficient argument, Harbert noted.

US-flag emblazoned factory on Wilmington Ave and 223rd St in Carson CA (Longbeach - Sputnik International
US Growth Stalls at 0.2% in Q1, Weighing on Stock Futures
The ban on crude oil exports was enacted in 1975 during a time of energy scarcity for the United States, she explained, but thanks to technical innovations, the United States is now one of the top oil producers in the world.

“The outdated ban on oil exports makes little sense in today's global economy,” Harbert said on Thursday.

Eliminating the ban on crude oil exports would boost the US economy by creating jobs, generating revenue and keeping prices low for business and customers, Harbert argued.

"The Chamber will be continuing to educate policymakers, the business community, and the public about the need to lift the ban, and we look forward to working with congressional leaders on a strategy to update our policy,” Harbert said.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала