Are you in favor of lifting the 40 year ban on oil exports?

I just read a head line on Fox News Channel website that the politicians are trying to lift the 40 year ban on oil exports... Sounds like that will send the prices back up and level the playing field for the U.S. against the OPEC countries... Any one else have any insight about this?

 

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Permalink Reply by Martha Lee Vincent on December 16, 2015 at 9:21pm

It's ridiculous that this hasn't been done already !  We need to get our economy moving !

Permalink Reply by Joe on December 18, 2015 at 12:31am
Selling out our country and children's future.  Who's stupid enough to believe exporting our resources will lower the price of gas.
 Do you think there is an unlimited amount of oil here? This is especially true of the Marcellus gas in Ohio, Pa, and Wv.  People are so blindly greedy to sell off and export our gas as fast as they can with no regard for our children and grand-children's future. There is a lot of gas here but not an unlimited supply. Mark my words "Our children will end up paying high prices to import oil and gas to heat their homes and put in their cars when it's all gone"
Wake up America. We can use it all right here. We can leave obamas dirty coal in the ground till the oil and gas is gone.
Permalink Reply by John Cape on December 18, 2015 at 5:51am

Absolutely in favor of lifting this oil export ban.

(1)  Since 2010, the domestic E&P companies have produced more light oil than the domestic refineries can process. That means that the domestic refineries get to lower the price of all of our light oil. It also means that the refineries can import a little light oil and make us cut our domestic prices even further.

(2) This also means that our domestic refineries can't burn all the light oil efficiently and are using it to substitute for some medium grade oil - because it's so cheap! This creates economic wastage.

(3) It's legal to export refined products.  Why is the domestic E&P industry forced to subsidize our domestic refineries?

(4)  By allowing domestic E&P producers to start getting full price for their light oil (either with the domestic refineries or outside the U.S.), it will close the gap between WTI and Brent.  This means that OPEC will not be getting a better price for their oil than what we get domestically.

(5)  The rest of this law in the 1970's dealt with price controls that we recognized was a really bad idea and all that crap was reversed. The only reason this particular part of that law was ignored is that it wasn't an issue until we started producing a lot of light oil with unconventional resources. Any way you look at it, this law is really bad economics and it will be nice when its a thing of the past.

Permalink Reply by David Allen Lilly on December 20, 2015 at 12:49pm

I have mixed emotions about it.

On one hand it will eventually boost profits for the oil and gas companies in America although I am not sure it will trickle down to us royalty owners.

I also think it helps our allies in that they will now have an option for the purchase of oil and natural gas other than some third world scumbags, or Russia.

But it will eventually, I fear, lead to higher prices at the pump here which will adversely affect consumers here in our country.

I doubt there are any noticeable effects very quickly.

Permalink Reply by Martha Lee Vincent on December 21, 2015 at 12:07am

THE BILL HAS ALREADY BEEN PASSED AND SIGNED BY OBAMA !

Permalink Reply by Joseph-Ohio on December 21, 2015 at 12:20am

Knew it passed but didn't know it was already signed into law.

Thanks.

Permalink Reply by lance on December 21, 2015 at 1:22am

Too bad that along with the lifting of the export ban Planned Parenthood also gets our tax dollars to fund abortions and other 'Liberal' agendas are also funded like Obama care taxes....  God help us if Hilary Clinton becomes our next POTUS 

Permalink Reply by Harvey Bloomfield on December 24, 2015 at 8:53am

No that will drive the price of nat. gas to over $8.00 pmcf that's what Europe pays so will you. It is not good for all of America. Why not ask if you think it is better to pay more for unleaded gas at the pump.

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