4 ms·
The United States banned crude oil exports from the 1970s until 2015: https://en.wikipedia.org/wiki/Energy_Policy_and_Conservation_Act#Crude_oil_export_ban,_19
by philipkglass 5y ago
The United States banned crude oil exports from the 1970s until 2015:
https://en.wikipedia.org/wiki/Energy_Policy_and_Conservation_Act#Crude_oil_export_ban,_1977-2015 https://en.wikipedia.org/wiki/Energy_Policy_and_Conservation...
https://ballotpedia.org/Crude_oil_export_ban https://ballotpedia.org/Crude_oil_export_ban
It didn't seem to affect retail fuel prices very much either way.
- mulmen 5y agoAlmost like there is a cartel manipulating prices.
- eyelidlessness 5y agoGovernments manipulate markets, news at 11.
- mulmen 5y agoYeah it’s so common there’s even a taxonomy.
- Scoundreller 5y agoThe impact wasn’t what you thought: it turned the US into the biggest exporter of refined products. In other words, refining security/oversaturation. A lot of neighbouring countries basically got the US to refine oil at a discount because it was the only way to get excess oil out.