Posted on 01/18/2015 9:22:47 AM PST by SoConPubbie
Sen. Ted Cruz, R-Texas, is apparently causing headaches for his fellow Republican senators once again by pushing what many consider a sensible policy at what some call an inopportune time, according to a Sunday story in the Washington Examiner. Instead of repealing Obamacare or curtailing immigration, Cruz is proposing an amendment to the Keystone XL Pipeline authorization bill that would lift the 39-year ban on crude oil exports. The question, which many Republican senators have, is this the right time and is Keystone XL the right vehicle?
As has previously been the case, Cruz has the facts on his side. The Wall Street Journal points out that lifting the ban would likely increase the supply of crude on the world market, thus lowering its price. American refiners do not have enough capacity to process light, sweet crude. Opening up world markets to American oil would provide an incentive for American producers to drill.
However, a widespread public perception exists that allowing oil into the world markets would drive up the cost of petroleum products in the United States. That fact is causing Republican senators to get anxious about ending the ban. Indeed polling data exists that suggest that the public overwhelmingly oppose lifting the ban.
“Sixty-nine percent of Americans ‘somewhat’ or ‘strongly’ oppose sending more oil and natural gas abroad, according to a poll of 1,101 likely voters in the 2016 elections released Thursday by left-leaning think tank Center for American Progress. On top of that, 71 percent of respondents — including 69 percent of Republicans — thought ending the oil export ban ‘would only increase gas prices here at home while making oil companies richer.’”
(Excerpt) Read more at examiner.com ...
Instead of repealing Obamacare or curtailing immigration, Cruz is proposing an amendment to the Keystone XL Pipeline authorization bill that would lift the 39-year ban on crude oil exports.
“The question, which many Republican senators have, is this the right time and is Keystone XL the right vehicle?”
The rinos probably believe it better to wait until it’s proposed by the obama administration or at least democrat leadership.
Instead of repealing Obamacare or curtailing immigration, Cruz is proposing an amendment to the Keystone XL Pipeline authorization bill that would lift the 39-year ban on crude oil exports.Deceptive Statement Alert!
Heaven forbid the Government does something to lower the Trade Deficit. /s
Hey, you posted it. :’)
Using the logic of the Polling Numbers, I guess exporting ANYTHING from the United States would raise pieces here.
That would include Meat, Electronics, Automobiles and Fruit and Vegetables to name a few.
But hey, you can’t fix Stupid. Obama proves that every day.
PRICES!
Oil is a global commodity. The more that is pumped into it globally, the closer you get to true discovery of its market value.
Almost impossible thanks for fedgov regulations.
“It makes no sense not to be able to export.”
Whether or not it makes sense really has no bearing on the issue, we are talking about government.
US major refineries are in nearly constant improvements and upgrades. In many, the only thing as old as the original build is the main road base and the plaque near the gate.
We already refine more than we use and export the surplus.
The US has spent billions upgrading refineries to process the cheaper heavy sour oil. Why is importing the cheap stuff and exporting the expensive stuff a bad idea?
From 1996 to 2000, about ~5.5% of the oil produced in Alaska was exported during the West Coast oil glut. Since then nearly no Alaskan oil exports.
There is a brand new refinery sitting idle in California for more than 40 years because the enviros won't let it be used.
You idiots don't realize that the purpose of this government is to make the population immobile so that they can be totally controlled!
Would you provide more info on that please?
If we refine more than we use, and now want to export crude, why are we importing any crude from the middle east?
That doesn’t make sense.
We import about 7 million barrels a day of crude oil for our refineries, in addition to the crude we produce ourselves.
But all crude is not the same. The industry has spent many billions of dollars upgrading the domestic refineries to use the heavy sour crude. It is the cheapest per barrel while containing more BTUs per barrel. Canadian oil sands for example.
Most of our increased crude oil production comes from light sweet. It makes sense to keep importing the cheap stuff that efficiently runs in our refineries while exporting the expensive light sweet.
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