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Panich52

(5,829 posts)
Thu Oct 1, 2015, 03:15 PM Oct 2015

Congress about to overturn oil export ban

The Hill
Overnight Energy & Environment

The crude oil export ban has led to more than $1 trillion in lost profits for American oil producers since the 1970s, according to a new analysis.

The conservative American Action Forum, looking at oil export data and historic price information, concluded that the 40-year-old export ban has reduced sales by $1.2 trillion for oil producers.

In a separate study, the Congressional Budget Office said* that an export ban bill working through Congress now would bring in about $1.4 billion in funds for the government over the next 10 years.

The studies comes as lawmakers move closer to voting on a bill to lift the ban. A House vote could come next week, and the legislation is moving through the Senate.

*https://www.cbo.gov/publication/50854?utm_source=feedblitz&utm_medium=FeedBlitzEmail&utm_content=812526&utm_campaign=Hourly_%272015-09-29_17%3a00%3a00%27

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Congress about to overturn oil export ban (Original Post) Panich52 Oct 2015 OP
Sure it did Demeter Oct 2015 #1
This message was self-deleted by its author Angry Dragon Oct 2015 #2
$1 trillion in lost profits for American oil producers? abelenkpe Oct 2015 #3
I thought the drill, baby, drill crowd wanted the oil to free the U.S. from global concerns OnlinePoker Oct 2015 #4

Response to Panich52 (Original post)

abelenkpe

(9,933 posts)
3. $1 trillion in lost profits for American oil producers?
Thu Oct 1, 2015, 03:35 PM
Oct 2015

Awwwwww, gee. You mean they could have profited more polluting our air and water? Poor poor oil producers.

OnlinePoker

(5,725 posts)
4. I thought the drill, baby, drill crowd wanted the oil to free the U.S. from global concerns
Thu Oct 1, 2015, 03:54 PM
Oct 2015

Now they just want to sell it into an already saturated market.

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