Comment on The Ignorance and Hypocrisy Behind Oil Export Bans

The Ignorance and Hypocrisy Behind Oil Export Bans

US oil and gas production was already declining, when the 1973 Arab oil embargo sent oil and gasoline prices skyrocketing and created block-long lines at gas stations. Increased domestic production could have eased the supply and price crunch, but the 1969 Santa Barbara oil spill had resulted in congressional leasing and drilling moratoriums on federal offshore and onshore lands.

 

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