Tuesday letters: It’s time to export US oil again

The prohibition against exporting U.S. oil has been sold to Congress as necessary to protect consumers from a surge in gasoline prices. This is more than nonsense; it is destructive self-deception. The ban on oil exports is hampering domestic oil production, causing the layoff of thousands of oil workers and slowing economic growth and might well weaken America’s strategic position in the world.

Members of Congress who have been skeptical of lifting the ban — which was imposed in the aftermath of the 1973 Arab oil embargo to protect consumers from further spikes in gasoline prices — now find comfort in the argument that the ban supports energy independence. But such independence is a goal too far — and unrealistic in today’s energy world. What’s important is that we achieve energy security instead.

We shouldn’t put our energy producers at a disadvantage by limiting their access to global markets. Nor should we deny other countries access to U.S. shale oil. The export ban is a repudiation of free trade — a hallmark of U.S. foreign policy that has benefited U.S. commerce and raised the living conditions of millions of people around the world.

The reason for lifting the ban is straightforward: As foreign markets open up, there would be greater investment in domestic oil production, providing oil producers with an incentive to keep drilling. With more U.S. oil on the international market, the global price of oil would decline, driving down the price of gasoline and other petroleum products.

Congress needs to act promptly to allow the export of crude oil.

Hilton Head

This story was originally published March 30, 2015 at 8:00 PM.