President Obama Should Ensure Crude Export Ban Stays Intact, Says Menendez
President Barack Obama should ensure the ban on U.S. crude oil exports remain in effect, despite recent comments by a cabinet official that suggest the administration may ease the ban, said Senator Bob Menendez in a Dec. 16 letter to…
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the president. The ease will increase the purchase price of American domestic oil in order to boost the profits of large oil companies, said Menendez. “Crude oil that is produced in the U.S. should be used to lower prices here at home, not sent to the other side of the world,” said Menendez. “We must continue to keep domestically-produced crude here to lower prices for consumers, while aggressively working towards clean and renewable alternatives. Allowing for expanded crude exports would serve only to enhance the profits of Big Oil, and could force U.S. consumers to pay even more at the pump.”