Consumers have finally seen a benefit of the U.S. export ban that helps keep energy prices here stable no matter the queer happenings of the world market. Now what ? Lift that ban ? I think not unless you like shooting yourself in the foot and here is why.
While the Oil Co’s are in fear of their bottom line of record profits from oil revenue the last 10 years will not continue and they all tout that we are making more oil in the United States than ever, it still falls short of reliance of imported oil. They confuse the issue to the public by using broader terms like “North America” or “The Americas” both terms include countries like Mexico, Canada and the later with Brazil and Chile.
So don’t let the smoke and mirrors of their talk fool you into thinking that it means more jobs ere in the U.S. because cheaper energy is what has been creating the jobs and that will soon end if the price of West Texas Intermediate Crude is the same as Brent North Sea Crude.
Perhaps when we are producing more U.S. oil than we consume in the U.S. , only that oil in surplus should be considered for export. At that point, the price of gasoline should be under $2 a gallon. Think of the job growth that will create !
But I fear that this will not be understood as the trick wording as I mentioned above and they will have the public fooled into being passive about it. After all, they make it sound like we have a surplus of oil now…. Not True … and remember that your car does not run on natural gas and natural gas does not come from oil !
The surplus of natural gas they talk about has yet to lower anyone’s’ heating bill that I know of.
I would say, let’s not talk about this again until the U.S. has a true surplus of “OIL”.