American oil production has increased dramatically in recent years, yet the federal government maintains a ban on the export of crude oil. Arguing that this policy is economically harmful, Heritage’s Nicolas Loris urges Congress to lift the export ban.
Expanding market opportunities will not just benefit oil companies. By opening the door to establish more efficient global oil markets, all Americans will reap the benefits of lower prices and a stronger economy. Free trade is one of the principal drivers of improving standards of living both in the United States and abroad, and removing unnecessary restrictions on oil exports will help power that growth.
Do you think we should expand the market for American oil?