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Calls mount to end ban on oil exports as US production booms
Fox News ^ | February 5, 2014 | Dan Springer

Posted on 02/05/2014 5:24:15 PM PST by jazusamo

When the Arab oil embargo of 1973 shocked the U.S. into long gas lines and rationing, Congress approved what was a no-brainer at the time -- a ban on exporting crude oil produced at home.

But today, with domestic oil production booming, some are questioning whether that ban should stay in place. The new concern is that the U.S. has more oil than its refineries can handle.

“This ban threatens record-breaking U.S. oil production and American jobs by creating inefficiencies, gluts and distortions,” Sen. Lisa Murkowski, R-Alaska, recently testified at a congressional hearing.

Murkowski has sent a letter to the White House asking President Obama to lift the ban on oil exports, even as the U.S. still imports 40 percent of its oil.

Supporters of lifting the export ban argue that oil is a world commodity -- and more of it on the global market will drive everyone’s gas prices down and create jobs in the U.S.

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: ak; alaska; export; lisamurkowski; murkowski; obama; oil; opec
Murkowski believes the White House can lift the oil export ban on its own -- but if Obama doesn’t act, she says she’s prepared to introduce a bill in Congress.

Looks like Murkowski is trying to help Sheila Jackson Lee and Conyers with their new Congressional Full Employment Caucus submit drafts of executive orders for 0bama to sign.

1 posted on 02/05/2014 5:24:16 PM PST by jazusamo
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To: jazusamo
“This ban threatens record-breaking U.S. oil production and American jobs company profits by creating inefficiencies, gluts and distortions, cheap gasoline

Fixed.

2 posted on 02/05/2014 5:30:11 PM PST by IronJack
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To: jazusamo

We need to build more refineries.


3 posted on 02/05/2014 5:31:30 PM PST by virgil
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To: jazusamo

“Supporters of lifting the export ban argue that oil is a world commodity....”

Bull$** More one worlder crap. We need to keep OUR oil HERE. Use it to power industry in AMERICA to create jobs and export what we produce, not our raw products. I don’t give a damn about oil prices overseas anymore than they give a damn about us.


4 posted on 02/05/2014 5:31:53 PM PST by ZULU (Magua is sitting in the Oval Office. Ted Cruz/Phil Robertson in 2016.)
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To: virgil
We need to build more refineries.

Absolutely, and to he** with Murkowski, 0bama and the environuts that are even against pipelines to move oil.

5 posted on 02/05/2014 5:34:45 PM PST by jazusamo ([Obama] A Truly Great Phony -- Thomas Sowell http://www.freerepublic.com/focus/news/3058949/posts)
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To: ZULU

Bump


6 posted on 02/05/2014 5:35:57 PM PST by jazusamo ([Obama] A Truly Great Phony -- Thomas Sowell http://www.freerepublic.com/focus/news/3058949/posts)
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To: jazusamo

I say export the food right off our kitchen table!


7 posted on 02/05/2014 5:43:56 PM PST by Karl Spooner
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To: virgil

Yup more refineries and pipelines to move product.


8 posted on 02/05/2014 5:49:21 PM PST by cripplecreek (REMEMBER THE RIVER RAISIN!)
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Please bump the Freepathon or click above and donate or become a monthly donor!

9 posted on 02/05/2014 5:56:23 PM PST by jazusamo ([Obama] A Truly Great Phony -- Thomas Sowell http://www.freerepublic.com/focus/news/3058949/posts)
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To: jazusamo

So the U.S. government isn’t any different than Hugo Chavez when it comes to nationalizing our energy resources, eh? LOL. Just goes to show you why so many people around the world think of us as a nation of unprincipled A-holes.


10 posted on 02/05/2014 6:10:56 PM PST by Alberta's Child ("I've never seen such a conclave of minstrels in my life.")
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To: jazusamo; All

Zero imported oil...then export it.

I would still release the restrictions on exporting US oil

Wonder if we have same export restrictions from NAFTA like Canada does....Canada must sell 2/3 of its export to the US


11 posted on 02/05/2014 6:21:48 PM PST by SeminoleCounty (A Theory is not a Fact....It is not called the "Fact of Evolution")
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To: virgil
We need to build more refineries.

We could if we could get rid of the enviro-wackos, our socialist commie pResident, the regulations from the EPA, tax upon tax upon tax, etc.etc.etc.

We are so screwed.

12 posted on 02/05/2014 6:24:43 PM PST by unixfox (Abolish Slavery, Repeal the 16th Amendment)
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To: SeminoleCounty

I agree. And while we’re at it, do the same for natural gas. It’s time to destroy OPEC. Let’s make the Saudi’s worse nightmare come true.


13 posted on 02/05/2014 6:27:16 PM PST by meatloaf (Impeach Obama. That's my New Year's resolution.)
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To: SeminoleCounty
Zero imported oil...then export it.

Amen to that...I full well remember the oil embargo in 1973 and don't want to go through another one.

In my view by not exporting until we're not importing a drop protects us from those not friendly to us.

14 posted on 02/05/2014 6:30:08 PM PST by jazusamo ([Obama] A Truly Great Phony -- Thomas Sowell http://www.freerepublic.com/focus/news/3058949/posts)
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To: jazusamo

If Alaska can’t move crude to the lower 48, I don’t mind if they close our trade gap by selling some of it to Japan.
But we need the Keystone approved and finished, along with a dozen new refineries started, restrictions on coal mining and coal plants lifted and a hundred other shackles on the energy sector lifted.
We’d create millions of jobs, save people billions of dollars a year on energy costs and thus free up money for the “discretionary” spending that fuels the service economy.


15 posted on 02/05/2014 6:32:26 PM PST by tbw2
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; cardinal4; ColdOne; ...

> “This ban threatens record-breaking U.S. oil production and American jobs by creating inefficiencies, gluts and distortions,” Sen. Lisa Murkowski, R-Alaska, recently testified at a congressional hearing.

Thanks jazusamo.


16 posted on 02/05/2014 6:59:51 PM PST by SunkenCiv (http://www.freerepublic.com/~mestamachine/)
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To: meatloaf

No export of oil until we provide 100% of United States needs. Then if we do, build up reserves, then sell overseas.


17 posted on 02/05/2014 7:03:44 PM PST by WildWeasel
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To: jazusamo

Why would we export a product we produce while we are still importing that same product from outside of the country? If we are producing so much oil then we should cut back on what we are importing first.

If I grow food in my garden it would make zero sense for me to harvest that food and sell it then go buy that same food from the store for a higher price.


18 posted on 02/05/2014 7:13:50 PM PST by Render
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To: jazusamo

Remember the propane debacle.


19 posted on 02/05/2014 7:31:47 PM PST by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: familyop
"Why would we export a product we produce while we are still importing that same product from outside of the country?"

Because there's a better market internationally than locally for crude. I understand the sentiments of people on this thread, but at the end of the day, the oil companies exist to turn a profit. Most of the majors had weak Q4 earnings reports.


20 posted on 02/05/2014 9:52:20 PM PST by CowboyJay (Cruz'-ing in 2016!)
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To: jazusamo
Murkowski has sent a letter to the White House asking President Obama to lift the ban on oil exports, even as the U.S. still imports 40 percent of its oil.

Funny. This is the same Murkowski that killed the US EMP Commission recommendations to harden the grid. Her numbers must be bad.
21 posted on 02/05/2014 10:03:38 PM PST by PA Engineer (Liberate America from the Occupation Media.)
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To: PA Engineer
This is the same Murkowski that killed the US EMP Commission recommendations to harden the grid.

Good God. What was her "reasoning" on that one?

22 posted on 02/06/2014 1:12:28 AM PST by Paul R. (We are in a break in an Ice Age. A brief break at that...)
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To: familyop
Remember the propane debacle.

Remember it? Right now, in our area, we are IN it, big time.

23 posted on 02/06/2014 1:45:10 AM PST by Paul R. (We are in a break in an Ice Age. A brief break at that...)
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To: tbw2
We’d create millions of jobs, save people billions of dollars a year on energy costs and thus free up money for the “discretionary” spending that fuels the service economy.

Exactly right. My family's electricity costs have risen so dramatically that, at least until spring, our discretionary spending has had to be cut by over 50%. We expect high billings in unusually cold weather -- but not THIS high.

A very good measure of the strength of an economy, and a civilization, is the affordabililty and availability of plentiful energy. That's not at all to knock efficiency IF the cost of the efficiency is reasonable, but power is... power.

24 posted on 02/06/2014 2:25:59 AM PST by Paul R. (We are in a break in an Ice Age. A brief break at that...)
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To: jazusamo

This rule harms America. End it and let them export oil.


25 posted on 02/06/2014 10:11:17 AM PST by 1010RD (First, Do No Harm)
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To: thackney

Any comments or insights on this?


26 posted on 02/06/2014 10:12:26 AM PST by 1010RD (First, Do No Harm)
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To: virgil
We need to build more refineries.

Why? We already refine more petroleum product than we use ourselves and export the surplus.

27 posted on 02/06/2014 10:16:43 AM PST by thackney (life is fragile, handle with prayer)
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To: ZULU; 1010RD
We need to keep OUR oil HERE.

Dreamers of cheap oil looking at the Demand Side curve of economics are ignoring the Supply Side. We will end up importing more oil from other locations as the investment dries up if we try to force prices below market value.

Reality is we are still the biggest demand for the local oil. And if we import some cheap heavy oil due to the capabilities of our refineries while exporting some expensive light oil, we will help the trade balance at the same time.

28 posted on 02/06/2014 10:21:16 AM PST by thackney (life is fragile, handle with prayer)
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To: Render
If we are producing so much oil then we should cut back on what we are importing first.

We have.

Image and video hosting by TinyPic

Image and video hosting by TinyPic

29 posted on 02/06/2014 10:24:29 AM PST by thackney (life is fragile, handle with prayer)
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To: thackney

Thanks for your posts.


30 posted on 02/06/2014 10:52:51 AM PST by jazusamo ([Obama] A Truly Great Phony -- Thomas Sowell http://www.freerepublic.com/focus/news/3058949/posts)
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To: thackney; ZULU

This law harms American liberty and independence. It helps our enemies.


31 posted on 02/06/2014 2:15:38 PM PST by 1010RD (First, Do No Harm)
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To: Paul R.
Good God. What was her "reasoning" on that one?

The original bill was the GRID Act (H.R. 5026). Murkowski gutted the bill and then introduced her own energy bill (S 1462). Her's was the American Clean Energy Act of 2009. She is one of the worst rhinos in congress. Red State explains why Murkowski Must be Denied Chairmanship of Key Energy Panel, if the Republicans retake the Senate.
32 posted on 02/06/2014 6:08:09 PM PST by PA Engineer (Liberate America from the Occupation Media.)
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To: 1010RD

?????????


33 posted on 02/06/2014 6:15:34 PM PST by ZULU (Magua is sitting in the Oval Office. Ted Cruz/Phil Robertson in 2016.)
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To: ZULU

Who benefits from this blockage?


34 posted on 02/06/2014 6:42:26 PM PST by 1010RD (First, Do No Harm)
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To: CowboyJay

I didn’t ask the question that you quoted and responded to.


35 posted on 02/07/2014 2:53:16 AM PST by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: 1010RD

The American consumer and worker. Use the oil here for American manufacturing to fuel American factories, and to reduce the price of American fuel and heating oil.

You can make an argument for the other approach also, but I think this one is more valid.


36 posted on 02/07/2014 3:23:04 AM PST by ZULU (Magua is sitting in the Oval Office. Ted Cruz/Phil Robertson in 2016.)
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To: ZULU
The American consumer and worker. Use the oil here for American manufacturing to fuel American factories, and to reduce the price of American fuel and heating oil.

Let's take your criteria and see what happens as this embargo continues. Keep in mind that low priced energy is important to economic growth and always has been. Are you thoroughly familiar with supply/demand curves, fixed and variable costs, fungible commodities, etc.?

The American consumer includes American businesses (I presume you're talking geography as in within the continental US, plus Alaska and Hawaii) and that includes oil companies. If a glut of oil occurs two things happen: suppliers cut back and as a consequence oil prices rise. Petroleum products for heating homes are a very small part of the market.

Imagine if the law were such that you must keep the entire product of your labor within the physical confines of your own home. In short order you'd impoverish yourself quickly, despite your skill and the plenty you've produced.

The best way to serve the American consumer (who by the way is paid by American businesses, you must produce before you can consume), is to open the market and sell to the highest bidder all that they'll buy. This undermines our enemies in OPEC and no matter what a cartel is an enemy to America wherever it occurs. Think about it.

37 posted on 02/07/2014 5:34:57 AM PST by 1010RD (First, Do No Harm)
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To: 1010RD

Well, you convinced me.


38 posted on 02/07/2014 6:58:13 AM PST by ZULU (Magua is sitting in the Oval Office. Ted Cruz/Phil Robertson in 2016.)
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To: ZULU

Good. May I ping you to help when other FReepers aren’t understanding the concept of free trade.


39 posted on 02/07/2014 9:30:13 AM PST by 1010RD (First, Do No Harm)
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To: 1010RD

Yes. I do believe in Milton Freedman.


40 posted on 02/07/2014 11:21:30 AM PST by ZULU (Magua is sitting in the Oval Office. Ted Cruz/Phil Robertson in 2016.)
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