The United States is producing more crude oil today than it has in over a decade. Exports on coal, natural gas and gasoline are legal. So why, given these factors, is the ban on crude exports still in place?
That is a question that has been passed around a lot recently, and is the one directed at our experts this week.
Dating back to 1975, the beneficial aspects to the ban are mostly in the past—and the advantages to removing it continue to pile up. While there are issues raised around the negative effect removing the ban may have on our economy, the benefits seem to outweigh the risk, especially when the ban didn't necessarily live up to expectations.
That is why we asked traders, "Should the United States lift its ban on crude oil exports?"