Refining crude is something we do well in the US and it makes for a lot of jobs. Why should be not refine every drop of crude we can and sell the refined products on the world market? Buy crude, sell refined products. Entrepreneurs would build more capacity if they could sell more product and then we would not have to worry about exporting crude.
Cruz doesn’t worry about McConnell’s “timetable.” When he wants to do things, he does them.
It’s the beginning of a new congress and there’s an oil bill before the senate. When exactly would be a good time? When McConnell and his minions could bottle up any amendment from a conservative?
When all the new small oil companies and drillers who came online during the fracking boom go broke because of the oil crash, consumers will be paying more to Big Oil, which can set the price where they need it to keep their stock holders happy. Driving the small players out of business is exactly the wrong thing for the consumer, because it limits competition and supply.