Eliminating the crude export ban would not only hurt the many communities facing dangerous oil extraction in their backyards but also our climate, as the industry digs up unburnable oil at an even faster clip. The only beneficiaries of gutting this law are the Big Oil Executives seeking to pad their profits.
Senator Lisa Murkowski has put U.S. crude oil exports front and center of her policy agenda today. The debate on crude oil exports, like that on natural gas (LNG) and coal exports, should be about climate change.
Today Bloomberg News revealed that the American Petroleum Institute (API) has developed a strategy to challenge America’s crude export regulations using international trade law. Deregulating U.S. crude oil exports would make fracking and the tar sands even more profitable than it already is and enable the industry to go into ever more marginal and extreme reserves to produce more of these extreme oils.
Only a few months ago, we reported on the release of the IEA’s World Energy Outlook, which for the first time ever acknowledged that we cannot burn at least two thirds of the fossil fuel reserves we currently classify as ‘proven’. So, one would assume that the IEA would agree that further exploitation of such … Read More