“Block All New (BAN) Fossil Fuel Exports Act, legislation that would amend the Energy Policy and Conservation Act and ban the export of American crude oil and natural gas abroad to protect frontline communities from dangerous export infrastructure, prioritize U.S. consumers against fossil fuel profiteering, and help ensure the United States meets its climate and clean energy commitments on the world stage,”
This is the lead of an attempt by Sen. Edward Markey to stop the export of all oil from the USA. Markey is a leading opponent of the fossil fuel industry. The problem with the proposal is that the USA produces more light crude oil than the more desirable medium oils which make the most economical and largest percentage of a barrel of oil. The surplus lighter oils are predominantly traded to Europe and elsewhere.
Further, oil from Alaska goes to Japan who buys Mexican oil and S. American oil to ship to the US. This saves a lot of transportation costs for Japan and the US.
In short the ban of exporting oil will have a net negative impact upon our production and ultimately require more imported oils to be brought into the country and will drive up the cost of all petroleum products