U.S. Oil Exports - For Our Security And The World's

July 30, 2015

Energy Tomorrow.org

We’ve stressed the economic benefits of lifting the ban on U.S. crude oil exports – GDP growth, job creation and consumer savings – because they’re considerable and would affect virtually every American in a positive way. No less important are the benefits for American security and foreign policy from letting U.S. crude trade freely in the global marketplace.

API President and CEO Jack Gerard:  “Experts across the academic and political spectrum agree that American exports would spur greater U.S. oil production, put more oil on the world market, and reduce the power that foreign suppliers have over our allies. Our ability to strengthen the global energy market against future disruptions will shape events around the globe, adding a key tool to America’s diplomatic arsenal.”

Others echoing this point have included Leon Panetta, President Obama's former defense secretary and CIA director, and Stephen Hadley, former national security adviser to President George W. Bush, in a Wall Street Journal op-ed; retired Gen. James Jones, President Obama's former national security adviser, in comments to USA Today; and Michele Flournoy, President Obama's former undersecretary of defense for policy, in congressional testimony this week. Flournoy:

“… we should not underestimate the degree to which becoming an oil exporter could impact perceptions of the United States as a vital global power, helping to discredit erroneous narratives of U.S. decline. … When more supply originates from producers who are not vulnerable to political instability, conflict or threats to their energy infrastructure, the overall market becomes more stable. … [A]llowing U.S. oil exports would enhance the energy security of key U.S. partners, from Poland to India to Japan. Indeed, our closest allies in Europe and Northeast Asia would welcome – and have asked for – the unrestricted export of U.S. crude oil. … Enabling U.S. oil exports would strengthen  our geopolitical influence, leadership and leverage with allies and adversaries alike.”

Petr Gandalovic, the Czech Republic’s ambassador to the U.S., probably said it best during a congressional hearing earlier this month, supporting legislation that would lift America’s oil exports ban:

“I cannot assure you that if you pass this bill there will be a direct purchase from our refineries … of U.S. crude oil. I can predict that if there is an alternative coming from the U.S., as a democratic state that doesn’t use natural resources as a political tool, the world itself will be a … safer place.”

Timely is a new report released by the Atlantic Council this week that builds on these arguments. The report, co-chaired by U.S. Sens. Lisa Murkowski of Alaska and Mark Warner of Virginia, says that surging domestic energy production and reduced imports (see chart below) have given the United States the opportunity to combat terrorist threats in the heart of the world’s global energy reserves while promoting the rule of law and international order.

Read the entire article at EnergyTomorrow.org.

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