U.S. Senator Lisa Murkowski says a ban on exporting petroleum is hurting the economy.
Sen. Murkowski(R-AK): “Lifting the prohibition on crude oil exports will serve to increase domestic oil production and the entry of this oil onto the global markets will put downward pressure on international prices. And all things equal, this combination will help the American consumer.”
Murkowski called for an end to the ban, and said she would introduce legislation if necessary, but…
Sen. Murkowski(R-AK): “Now I believe that the Administration retains enough statutory authority to lift the ban on its own.”
The export of crude oil has been banned since the 1970’s.