In fact, what the industry wants is for us to be dependent on dirty, dangerous, fossil fuels to maximize their profits. In December 2015, oil companies lobbied hard to get the 1975 ban on U.S. oil exports lifted. The OPEC embargo inspired ban was put in place to protect citizens and businesses from operations disrupted by the volatility of a global commodity market. The 1970's saw long gas station lines and shortages throughout the nation. Now, Monterey County’s oil is a global commodity exported to the highest bidder on the world market and "The Seven Sisters" oil cartel is a more powerful monopoly than ever.
America is wasting little time getting back into the oil exporting business.
by Matt Egan
Just weeks after Congress lifted a 40-year ban on exporting oil, the first shipments of the black stuff left U.S. ports for Europe."The fact that producers have free access to the global market will make it easier for U.S. supply to respond to disruptions around the world," said Jason Borduff, a former energy adviser to President Obama who is currently a professor at Columbia University."
Although the lifting of the ban hasn't brought about an immediate dramatic increase in exports, companies that have long lobbied for the change in policy may be eager to save face and show their efforts weren't in vain are ramping up pipelines and export facilities.