There are many reasons to lift the crude oil export ban. Oil exports will create jobs, reduce the U.S. trade deficit, and lower prices for consumers.
In The Hill, Guy Caruso explains that allowing America to export oil will also benefit our allies around the world:
Japan, South Korea, and Taiwan are each more than 90 percent dependent on energy imports according to recent paper by the American Council for Capital Formation. These important allies would have little choice but to consider Iranian oil imports to meet their domestic energy needs if the United States refuses to export its abundant supplies of crude oil. By allowing U.S. energy exports, we can step up as a global energy leader to better support and protect our allies while at the same time strengthening our own economic security.
America’s success is structured on the principles of free trade and individual opportunity. Those values are the strongest tool we have to carry our message of hope to people around the world. We should not be afraid to leverage our physical resources to demonstrate such ideals. In doing so, we will offer a helping hand to our allies – all while creating opportunity here at home.
If American crude is allowed to be sold on the world market, it will reduce the strength of unfriendly nations such as Iran and Russia. Banning American oil exports only helps these nations and their leaders exert pressure on our allies around the world.
Lifting the oil export ban is good for America. It’s also good for the world. Congress needs to repeal the export ban, and we need to speak up and tell them that.