Today I would like to touch on something that is
not on the minds of many Americans, especially with an election year coming up.
The issue at hand is the exportation of American crude oil supplies to
international markets. This issue is more important then many politicians,
bureaucrats, and policy makers make it out to be. The only people that seem to
be taking notice are a small fraction of congressman and many private sector
oil barons and businessmen.
It seems very unusual right?
The United States of America exporting our most beloved resource, crude oil.
Many people never thought they would see this day, while others are using all
means possible to keep said day from arriving. We are not living in the 70's or
80's anymore, and, although these trade barriers were necessary in a time not
so long ago, they no longer hold merit in the globalized world of today.
The following paragraph's aims
are to give the reader a brief understanding of U.S crude oil exportation
policy and reasons why it was first implemented. This passage will also touch
on the standing of this crude oil policy in the current global environment and
why it needs to be reevaluated and amended.
The oil export ban all started with OPEC and the
Arab Oil Embargo in the mid 1970's. Throughout the mid-1970's the U.S
encountered multiple oil and gas shortages at the hands of middle-eastern oil
kings. After the second oil shortage in 1979 it became apparent that something
had to be done. American legislators knew they could never allow such
unprecedented oil shortages from occurring again both for national security and
economic reasons as well as the effect it had on the average American, their
constituents.
Moving forward to present day.
The U.S, assisted by hydraulic-fracturing and chaos in the Middle East, has
become a major global oil producer. We have curbed our massive domestic oil
consumption with domestic supplies and created a crude oil surplus. The U.S now
has the means of exporting excess oil, creating new jobs, and stabilizing the
volatile global crude oil trade.
This oil ban no longer fits
reality, and certain members of congress are fully aware of the incompatibility
this ban has with the current world disposition. It is no surprise that some of
the biggest congressional proponents of U.S oil exports are senators and
congressmen from Alaska and Texas (William Hurd, Henry Cuellar, and Lisa
Murkowski) but they may be exactly the right people to take the reigns on this
issue because those two states have the biggest stake in the matter. This
directly connects to the duality of Congress as both a national lawmaking body
and a small-scale constituent protector. The members of congress mentioned in
the previous sentence are practicing both roles while fighting for the restructuring
of the oil export ban legislation. The member’s see that this oil exportation
will lead to more jobs and more economic stimulation in their home states,
which contributes to their reasonability to their constituents. They also see
that the modification of this ban will lead to the stabilization of the global
oil market, the decline of OPEC, and the countering of the Russian and Iranian
oil markets once sanctions are lifted, this directly connects to congress being
a national law making body. They see the amending of the Oil Exportation Ban as
killing two birds with one stone, in that their constituents are happy and the
country as a whole is protected both economically and physically.
This economic matter merits much
consideration from not only our elected members of congress but also the
average citizen. It may seem like a minor issue in such a chaotic and
unpredictable world but with so much riding on amending oil export legislation
maybe it should become a more mainstream issue. But that is up to you. If you
think this issue warrants your attention, contact your elected officials and tell
them how you feel.
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