The ban was part of the nonsense of price controls and other government overreach.
It is why we have the SPR.
The SPR is a governmental function, national security. The export ban pushes investment and jobs overseas.
The real question is how economically viable it will be given the current glut of oil.
The confusion in that statement is regarding all oil as the same. The Gulf Coast has an abundance of expensive light sweet and many refineries optimized for cheaper heavy sour. Exporting the surplus expensive oil and importing the cheaper oil makes a lot of sense, lower US prices, higher US profits and more US jobs.
Exporting the surplus expensive oil and importing the cheaper oil makes a lot of sense, lower US prices, higher US profits and more US jobs.
More crapola meant to defend the indefensible. The Reps helped Clinton pass NAFTA using the same kinds of language. How did that turn out?