If the U.S. ban on oil exports is lifted, the only losers would be refiners that are now benefiting from crude prices cheaper than the global benchmark, said Larry Summers, President Barack Obama ’s former economic adviser. In an unconditional endorsement yesterday of ending the decades-long export ban, Summers said few public policy changes would hold such obvious benefits. Allowing more exports would lower gasoline prices, according to an analysis by the Brookings Institution, a Washington-based research group that analyzes national public policy. Summers, a former U.S. Treasury secretary and now president emeritus of Harvard University, agreed drivers would pay less at the pump, and he said billions of dollars of additional investment would be added to the economy if the export ban ended. “I don’t really understand who the losers are who are very important,” Summers said at a Brookings event in Washington. His remarks and the report […]