Full Title: Changing Markets Economic Opportunities from Lifting the U.S. Ban on Crude Oil Exports
Author(s): Charles Ebinger and Heather L. Greenley
Publisher(s): Brookings Institution
Publication Date: September 1, 2014
Full Text: Download Resource
Description (excerpt):
We drew on the expertise of legal advisers to understand the laws and regulations applicable to trade of crude oil and petroleum products, as well as the policy motivations behind them. We examined what steps the U.S. government will need to take if it chooses to change or modify its current policies and investigated in depth the economic impact of lifting the ban under different policy scenarios. As part of this process, we looked at a number of other studies that have been conducted on the issue and in the body of this report we compare and contrast our findings with those of other top analysts. Finally, before making our recommendations, we looked at the foreign policy implications of lifting the ban, since putting potentially large volumes of crude on the international market will have a differential impact on various nations, including some of America’s major trading partners, allies, and neighbors in the Western Hemisphere.