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Exporting crude oil makes sense, government ban does not

New studies show that lifting the decades-old ban on U.S. crude oil exports would increase domestic production, boost economic growth and government revenues, put downward pressure on the price of gasoline, and create thousands of new jobs.  One new study breaks down the economic gains generated by expanding crude exports on a state-by-state basis.  The numbers are impressive.  For example:

 

  • Nine different states would experience economic gains of more than $1 billion in 2020.
  • Eight states would reap 10,000 new jobs apiece by 2020.
  • Texas alone would see $5.21 billion in additional economic activity and almost 41,000 new jobs by 2020, with North Dakota, California, New York, and others close behind.

Additionally, another analysis conducted by IHS showed that increased crude oil supply would lead to lower gasoline prices by an annual average of 8 cents per gallon. With those savings, the combined savings for U.S. motorists from 2016-2030 would translate to $265 billion.

Crude oil exports restrictions were put in place in the 1970s, a time when U.S. oil production was way down and the fear of shortages was real.  Now domestic oil (and natural gas) production is off the charts, creating export opportunities that would benefit everyone, including American consumers.

IHS estimates that doing away with the crude oil export ban would support almost 1 million additional jobs nationwide and lead to lower gasoline prices for U.S. drivers.

Blake Clayton, Adjunct Fellow for Energy at the Council on Foreign Relations, summed up the case for crude oil exports like this:

Without compelling reasons for continuing to restrict crude exports, and given the potential benefits, Congress should liberalize the crude oil export regime. Republicans and Democrats alike, including President Obama, express support for boosting U.S. exports in general. Crude oil should be no exception.

There is no longer any reason to continue suppressing U.S. crude oil exports.  Energy Citizens looks forward to positive action from the federal government on this important issue.

Why We Must Act on Offshore Energy Development

If you believe in America’s energy future, you’ve got to act now to urge the federal government’s Bureau of Ocean Energy Management (BOEM) to open more offshore areas to responsible energy exploration.

Here are the top 5 Reasons why:

  1. JOBS
    Expanding offshore access for energy exploration could create as many as 480,000 new jobs for American workers.
  2. ONLY 13% OF OFFSHORE AREA IS OPEN
    A whopping 87% of federal offshore land is closed to energy exploration. At a time when the United States is still importing oil and gas from other countries, it makes no sense not to be making the best use of our own resources.
  3. REVENUE for the Federal Government
    Opening more federal land to offshore energy development could generate $23.5 billion in new government revenues over the next 18 years.
  4. AMERICA’S ENERGY SECURITY
    Pursuing offshore energy development would solidify America’s role as a global energy superpower and signal to the world that our energy revolution is here to stay.
  5. THE WINDOW OF OPPORTUNITY IS CLOSING
    The federal Bureau of Ocean Energy Management is already developing its next 5-year plan for oil and gas leasing. This plan will help determine the future of American energy offshore, and we only have until July 31st to have our say on the first draft!

Take just two minutes to tell BOEM to do the right thing and open up more of the Outer Continental Shelf to responsible energy exploration.

LNG Exports Will Help our Allies

Senators John McCain, John Barrasso, John Hoeven, and Ron Johnson recently returned from a trip to Eastern Europe. In an op-ed for the Washington Post, these senators lay out the case for using liquefied natural gas exports to reduce Russia’s power over Eastern Europe:

“Europe remains dependent on Russian oil and gas, while U.S. supplies are growing faster than our ability to bring them to market …. For our part, the Obama administration should lift holds on terminal applications for liquefied natural gas and ensure their expeditious processing so the private sector can build new capacity for transport and storage. These actions could weaken Putin, support our allies, strengthen the U.S. economy, increase federal revenue and create thousands of good jobs.”

Good energy policy for our Eastern European allies is also good energy policy for Americans. It’s great to see these lawmakers joining together to advocate for this win-win situation.

Weigh in on Offshore Energy Development

Energy Citizens--

the Obama Administration has officially started to develop its five-year leasing plan for the Outer Continental Shelf (OCS). A new 5-year plan could mean that new areas will be opened up for oil and natural gas exploration – but only if they hear from you.

Tell the Obama administration that you want to expand offshore energy development!

Currently 87% of federal offshore waters are locked away – meaning we are unable to develop the oil and natural gas that would increase American energy security, create hundreds of thousands of jobs and grow the economy.

With the current unrest in the Middle East, it is more important than ever that the U.S. develop the oil and gas resources that exist off our coast. We should not have to rely on unstable regions of the world for the energy we need.

We need active Energy Citizens like you to make your voice heard in Washington, D.C. Stand up for our nation’s energy security and our energy future today!

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