Should The Ban On U.S. Oil Exports Be Lifted?

04:30

April 24, 2015

An oil well owned an operated by Apache Corporation in the Permian Basin are viewed on February 5, 2015 in Garden City, Texas. The well produces about 55-70 barrels of oil per day. As crude oil prices have fallen nearly 60 percent globally, many American communities that became dependent on oil revenue are preparing for hard times. Texas, which benefited from hydraulic fracturing and the shale drilling revolution, tripled its production of oil in the last five years. The Texan economy saw hundreds of billions of dollars come into the state before the global plunge in prices. Across the state drilling budgets are being slashed and companies are notifying workers of upcoming layoffs. According to federal labor statistics, around 300,000 people work in the Texas oil and gas industry, 50 percent more than four years ago. (Spencer Platt/Getty Images)

This week, hundreds of energy executives and officials have been gathered in Houston for the annual IHS CERAWeek, the Super Bowl of energy conferences.

While alternative energy was a a hot topic of discussion, it was drowned out by the refrain of U.S. oil producers calling for the 1970s ban on U.S. oil exports lifted.

What would lifting the ban mean for prices at the pump and the U.S. oil industry?

Here & Now's Robin Young discusses this with Dan Boyce of Inside Energy, a public media collaboration that focuses on America's energy issues.

Guest

Dan Boyce, Colorado reporter with Inside Energy. He tweets @BoyceDan.

This segment aired on April 24, 2015.

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