For 40 years there’s been a ban on the export of US crude oil, and as the oil industry and other experts ramp up their efforts to have the ban lifted, it looks as though things are headed in that direction.
House Speaker John Boehner asked Congress to put an end to the decades-old ban, pointing out the economic benefits at his weekly press briefing. “Lifting the ban would create an estimated one million jobs here at home — jobs that would frankly get created in every state.”
Boehner went further, stressing what dropping the ban would do for the average consumer as well as America’s allies. “It would help bring down prices at the pump for consumers. And it would be good for our allies. If the administration wants to lift the ban for Iran, certainly the United States should not be the only country left in the world with such a ban in place.”