According to a recent IPAA Press Release, last week, Democratic leaders in the House and Senate called on Congress to address rising gasoline prices and incorrectly blamed crude oil exports as a main cause for increasing cost at the pump.
U.S. Senator Ed Markey (D-Mass) filed legislation to reintroduce the crude oil export ban, arguing that we need to keep crude oil for domestic use only, and this would result in lower gasoline prices. This rationale ignores basic facts of the geopolitical marketplace.
Energy in Depth, IPAA's rapid response, research and education program, developed a point-by-point response to Sen. Markey's arguments and is working hard to educate policymakers about the substantial efforts made by American producers to grow the supply of American crude oil as we strive for energy independence.
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