A Call to Lift the Ban on U.S. Crude Oil Exports

A CALL TO LIFT THE BAN
ON U.S. CRUDE EXPORTS

A Call to Lift the Ban on U.S. Crude Oil Exports

PESA supports energy growth, especially as it relates to job creation. Lifting the decades old ban on U.S. crude oil exports would support hundreds of thousands of new jobs within the energy sector while non-energy producing states would benefit from the rewards of free trade. More importantly, it’s time.

This outdated trade restriction, which began in the 1970s when energy was scarce,  has little use in today’s energy-rich environment. The U.S. is now the world’s leading producer of oil and natural gas. In fact, production in many individual states now outpaces production in some of the top energy-producing nations in the world. U.S. Senator Lisa Murkowski testified before the Senate Banking Committee on the benefits of lifting the current ban on domestic crude oil exports, stating that ending the ban is “an opportunity for our nation to become an energy superpower.” (source: www.energy.senate.gov)

There’s no longer any justification for keeping one of our most valuable commodities off the global market, limiting our economic potential and energy security. It’s time to #LiftTheBan.

Source: IHS, API, ICF International and EnSys Energy Study “The Impacts of U.S. Crude Oil Exports on Domestic Crude Production, GDP, Employment, Trade, and Consumer Costs”
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Benefits to Lifting the Ban

394,000 more jobs on average 2016-2030

1.2 million barrels per day increase to crude oil production 2016-2030

$70 billion more invested in exploration, development and production 2015-2020

$134 billion additional GDP in 2018

$1.3 trillion increase in total government revenues 2016-2030

$5.8 billion savings to consumers fuel cost 2015-2035

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