The Effects of Lifting the Crude Oil Export Ban
Research shows that lifting the export ban would actually reduce the price of gasoline in the United States. This is because gasoline prices are determined by the global market. Indeed, recent studies show that the price of gasoline in the U.S. is more reliant on the global benchmark of crude oil than the domestic price. Following this logic, if the ban were to be lifted, more U.S. produced crude oil on the global market would increase global supply, and assuming international gasoline demand remains constant, the global price of crude oil would decline, impacting the price of internationally traded gasoline and ultimately the U.S. consumer.
Share
Read Next
Support Research Like This
With your support, BPC can continue to fund important research like this by combining the best ideas from both parties to promote health, security, and opportunity for all Americans.
Give NowRelated Articles
Join Our Mailing List
BPC drives principled and politically viable policy solutions through the power of rigorous analysis, painstaking negotiation, and aggressive advocacy.