Highlights Analysts see restrictions as a remote but increasing risk Some Democrats also pushing for LNG export limits Urging the White House to end consideration of a US crude export ban, a bipartisan group of lawmakers said reimposing the restrictions would increase US gasoline prices, curb domestic production, restrict global supply and pose other serious economic threats.
The four Democrats and four Republicans in the House of Representatives detailed the potential unintended market impacts in a Dec. 9 letter to President Joe Biden. “If your Administration is seeking solutions to reduce the price of U.S. gasoline, a crude oil export ban is not the remedy,” the letter said. “In fact, imposing such a ban will most likely make the situation far worse, as many of the existing studies have shown.” Biden administration officials have repeatedly […]