So I heard Lisa Murkowski on CSPAN argue to repeal a 1970’s law that restricts the export of oil. She claims that this will not raise gas prices. How can what she says be true?
Even if we don’t restrict the export of refined products including gas (and perhaps we should), how can it be true that lifting the ban on exports of crude oil NOT increase gas prices?
The reason I ask is because I support fracking as a part of domestic energy policy (I understand fracking is not consequence free but I think it is a necessary) but it is much less attractive as a policy position if we are living with the consequences of fracking so that CHINA can get cheaper oil or so that Alaska can pay out bigger dividends to its state residents.