Energy experts are slamming a group of Senate Democrats who sent a letter to President Biden urging him to ban the U.S. crude oil exports in a move they say would lower gas prices for everyday Americans.
In the letter the 11 Democrats, including Sen. Elizabeth Warren, told Biden that the “choice of domestic leaseholders and producers to continue export U.S. petroleum” threatens to “send already record prices even higher” and called on him to “ban crude oil exports.”
“That proposal does absolutely nothing to alleviate higher prices or to make prices lower than in any sort of relative sense,” Petroleum Economist Karr Ingham of the Texas Alliance of Energy Producers told Fox News Digital in response to the letter. “The economics of that are pretty clear. And if the suggestion on the part of the administration is that in implementing a ban on U.S. crude oil exports makes US domestic crude oil prices lower and therefore, for example, U.S. gasoline prices lower, that’s pure folly, that is not the effect.”
