Posted: September 11, 2014
The linked article below from the Albuquerque Journal states the obvious that exporting more crude oil would help bring the price of gas down in your neighborhood and around the world. It is simple supply demand economics that the more something is in supply the less demand there will be and the lower the price.
As reported in the energy section of this Website, the U.S. has made great gains in producing fossil fuels and is to the point that it could be a net exporter of oil soon. The problem is that the Federal government has a law on the books that forbids the U.S. from exporting oil. The law was put in place after the Arab oil embargo in the 1970’s and hasn’t been lifted.
Larry Summers, a Democrat, has said that oil exports would improve the nation’s geopolitical standing and generate much needed revenue for the Federal government. In fact, 90% of 30 economists surveyed believed removing the export ban would be good for America.
We know it would be good for the state of New Mexico.
We have two men running for the U.S. Senate in the November election. Tom Udall is firmly against fossil fuels and hasn’t lifted a finger to have this law on the books removed.
Looks like a good reason to vote for his opponent.
You can count on Tom Udall to do the opposite of common sense.
Full article here >>>.