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By Patrick C. Miller | August 26, 2015
A Center for American Progress (CAP) report on lifting the U.S. ban on crude exports said the move represents a fundamental policy change that creates risk without adequate consideration of the consequences.
But John Auers, executive vice president at Turner Mason & Co. who’s nationally recognized as an oil industry expert, doesn’t agree with some of the report’s conclusions and statements.
For example, the CAP report says, “Congress would be abandoning the national goal of American energy independence—a goal that politicians from both parties and oil industry leaders have been urging Americans to embrace for the past 50 years.”
“I don’t buy that,” Auers said. “To the extent that you have incentives to produce more energy in the U.S. and you do produce it—whether you export it or not—you’re moving closer to energy independence. If you’re in an environment where you’re exporting crude, it means that you have excess crude. It means you’re essentially already energy independent.” Continue reading…