Wyoming: Would Removing Crude Export Ban Help Oil Companies?

Posted October 22, 2015 at 5:34am

The Casper Star Tribune reports: “To hear America’s leading oilmen tell it, lifting the 40-year ban on U.S. crude exports would be a boon to the national economy. It would shrink the trade deficit, spur a new round of drilling and create jobs. One industry-backed study predicted an end to the embargo would create a million jobs nationwide.”  

“But Wyoming’s captains of industry are less sanguine. To be sure, the state’s leading oil executives support lifting the ban. They say it could open new markets and ease a supply glut that has been holding down domestic prices.”  

“Yet most offered more measured predictions than their national counterparts. Ending the ban would likely benefit Wyoming producers in the long term but is unlikely to bolster slumping crude prices in the near future, they said.”