The Biden Administration has once again floated the idea of limiting U.S. fuel exports in order to ease the pressure on consumers at the pump. Oil and gas industry groups have highlighted the significant unintended consequences that would come from such a policy. While the government is eager to cut costs for consumers, a fuel export ban could result in cost increases, refinery closures, job losses, and productivity declines. The Biden Administration hasn’t given up on the idea of limiting U.S. fuel exports in what the White House claims would ease the pressure on consumers at the pump. The Administration also continues to attack the American oil industry, blaming it for making huge profits instead of passing the savings onto consumers. Desperate to see lower gasoline prices, the Biden Administration is once again floating the idea of curbing U.S. fuel exports in view of the multi-year low inventories domestically […]

Posted in: USA