The Oil-Export Ban Harms National Security; The U.S. is willfully denying itself a tool that could prove vital in dealing with threats from Russia, Iran and others

Blocking access to these supplies is the ban on exporting U.S. crude oil that was enacted, along with domestic price controls, after the 1973 Arab oil embargo. The domestic shale energy boom has supported an estimated 2.1 million U.S. jobs, according to a 2013 IHSstudy, but the recent downturn in oi...

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Bibliographic Details
Published in:The Wall Street journal. Eastern edition 2015-05-19
Main Authors: Panetta, Leon E, Hadley, Stephen J
Format: Newspaper Article
Language:English
Subjects:
Bans
Crude oil
Energy
Gasoline prices
National security
Natural gas
Petroleum industry
Petroleum production
Sanctions
Supplies
Supply & demand
US exports
Wage & price controls
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Summary:Blocking access to these supplies is the ban on exporting U.S. crude oil that was enacted, along with domestic price controls, after the 1973 Arab oil embargo. The domestic shale energy boom has supported an estimated 2.1 million U.S. jobs, according to a 2013 IHSstudy, but the recent downturn in oil prices has led to massive cuts in capital spending for exploration and production.
ISSN:2574-9579