Environment & Energy
Related: About this forumCongress 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
Demeter
(85,373 posts)probably the only thing that kept US from becoming Greece.
Response to Panich52 (Original post)
Angry Dragon This message was self-deleted by its author.
abelenkpe
(9,933 posts)Awwwwww, gee. You mean they could have profited more polluting our air and water? Poor poor oil producers.
OnlinePoker
(5,725 posts)Now they just want to sell it into an already saturated market.