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Debate stirs over benefits of U.S. oil exports
WASHINGTON, Jan. 31 (UPI) -- The American Petroleum Institute said exporting U.S. crude oil could mean lower energy costs for consumers, an issue countered by others in the energy sector.
Debate stirs over benefits of U.S. oil exports API, an industry lobby representing more than 580 companies, said a study it commissioned from energy consultant group ICF International indicates exporting crude oil from the United States could translate to $6.6 billion in savings for U.S. consumers by 2020.
"It's undeniable that the American energy revolution has rendered our current export policies obsolete," API Vice President for Economic Policy Kyle Isakower said in a statement Thursday. "Allowing exports will ensure that U.S. production remains strong...
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