[thackney]

That is still the political equation today. Even on FR, most are more concerned with what they personally will pay at the pump tomorrow than the long-term economic health of the nation.

Too many ignore the long-term economic health (more US production) is long-term lower prices, everything else being equal.

The reality is that all bans, embargoes and tariffs benefit a favored few.

BTTT, the government should not be selecting individual winners and losers in the market.

Real life examples will help break this monster.

Absolutely. Ban the export of wheat this year and wheat prices will drop. But don't expect the farmers to plant the same amount of wheat next year, and the prices are going to skyrocket and for longer than a single season. The oil is the same, but a long time frame.

[Praxeologue]

An example of the alliance between self-interested refiners and demagogues is Democrat U.S. Senator Robert Menendez, representing the refiner-crowded State of New Jersey. Here is his spin:

Easing this ban might be a win for Big Oil, but it would hurt American consumers. ... We must continue to keep domestically-produced crude here to lower prices for consumers ... Allowing for expanded crude exports would serve only to enhance the profits of Big Oil, and could force U.S. consumers to pay even more at the pump.