Should oil export ban be lifted?

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GRAND JUNCTION, Colo On Friday congress will vote to overturn the oil export ban originally introduced in 1975.

Vital for Colorado, a group promoting the benefits of energy production and 90 Colorado business leaders authored a letter in support of lifting the ban to the Colorado congressional delegation

Since 1975 exporting crude oil outside of the U.S. has been banned. But after pressure from state business leaders, including many here on the Western Slope, congress will vote, this Friday, to support legislation that could lift the ban.

Jonathon Ekstrom of Vital for Colorado said the benefits to lifting the ban are huge.

"Lifting the ban could potentially result in lowering gas prices by an average of 8 cents a gallon, which would be a total of $265 billion of saving from 2016 to 2030."

Petroleum refineries are against lifting the ban that was first put in place to conserve an American crude oil reserve. They believe it will cost them American jobs, and put them in direct competition with foreign oil refineries.



 
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