By Jerry Simmons, Executive Director of the National Association of Royalty Owners
In Congress, there are essentially three kinds of laws: Those that achieve their intended goals; those that don’t; and those that — by flaw of design or implementation — somehow do the complete opposite of what they intended.
One example of this third kind of law is the 40-year ban on the export of U.S. crude oil.
The crude oil export ban was implemented in 1975 to insulate America from the energy price and supply shocks that crippled our economy after the 1973 Arab oil embargo. The reasons for the ban are no longer relevant, and by keeping it in place, we are actually making the U.S. less competitive and energy supplies less secure — the opposite of its intended effect.
Now, with the recent and rapid increase in domestic U.S. oil and natural gas production, it is time for Congress to lift the ban on U.S. crude oil exports.
Read the full op-ed at Roll Call HERE.