The U.S. ban on oil exports

FeaturedNewsComments Off on The U.S. ban on oil exports

For 40 years, the federal government has prohibited the American energy sector from exporting more than a tiny fraction of domestically produced crude… Selling American crude on the international market would boost domestic production while spurring economic growth at home and around the world.

When President Gerald Ford signed the ban into law, the nation was still reeling from the fuel shortages of the 1973-74 Arab oil embargo. By keeping American crude off the international market, the ban was intended to prevent a future crisis. But as those of us who remember the gasoline shortages of the late 1970s can attest, it didn’t work.

Four decades later, the policy makes even less sense. Thanks to the so-called shale revolution, the United States has been the world’s leading producer of oil and natural gas for three years running.

Against this backdrop, the fears of oil shortages that motivated the export ban seem quaint. But this ’70s-era policy isn’t merely anachronistic. It’s holding back both our energy sector and the economy.

Read the full article here.

Vince Perfetto

Vince adds diverse experience to the Foundation with a background in broadcasting, accounting, and telecommunications. He loves living in the freest state in America, New Hampshire. With a “Live Free or Die” attitude and a strong independent streak, Vince feels right at home among his fellow N.H. citizens. He was raised to respect others and to work hard to achieve his goals, and thus takes pride in saying he has “the best parents, ever.” When Vince isn’t working on the Foundation, he enjoys hiking, reading, and relaxing with a great New England micro brew.

Comments are closed.

  • Follow Us

    The goal of the Foundation for New Hampshire Independence is to educate citizens on the benefits of the 'Live Free or Die' state peacefully declaring its independence and separating from the federal government of the United States.

             
  • Sign up for our email list

    Sign up for our email newsletter to discover the latest events and opportunities to promote New Hampshire independence. We treat your information confidentially and we'll only send one or two emails per month.
  • Contribute

    Donations from supporters like you are what keep us going. As a 501(c)(3) educational organization, donations to the Foundation for New Hampshire Independence are tax-deductible. Please consider contributing so that we may expand our educational efforts.

    Use the Paypal or Bitcoin buttons below or see additional ways to contribute.



© 2015 Sofarider Inc. All rights reserved. WordPress theme by Dameer DJ.