Ending export ban has benefited U.S.

Published 9:58 pm Thursday, April 28, 2016

 

It’s almost impossible to overstate how important this is, to the region, to the state and to the nation. Lifting the oil export ban has been a success. It has changed the geopolitical world order and it could soon right the U.S. economy.

“Congressional Republicans haven’t had many policy victories to celebrate in the last couple of years, but one that is starting to show dividends is the ending of the 1970s-era ban on exporting oil,” wrote Stephen Moore for Investors Business Daily. “House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell insisted on overturning the outmoded export restriction in last year’s omnibus spending bill and triumphed over Barack Obama’s stiff opposition.”

As a result, the first tankers carrying U.S. oil set sail on Dec. 31, 2015.

“Energy analysts are now reporting that in just the three months since then, the industry is shipping American crude all over the globe,” Moore reported. “The numbers for shipments are still small, but the forecast is for larger volumes of