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.

Topics:  arab   santa barbara   alaska   congress   oil   export   production   limit   gas   speed   drilling   
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