Here’s what happened…
Top Energy experts are furious with Senate Democrats after they urged President Biden to ban U.S. crude oil exports by claiming that it would lower gas prices.
According to Fox, nearly a dozen Democrats including Sen. Elizabeth Warren told Biden the “choice of domestic leaseholders and producers to continue export U.S. petroleum is threatening to send already record prices even higher.”
However, Petroleum Economist Karr Ingham has refuted what the Democrats have said and is claiming that it will do nothing to lower high gas prices in the United States in any way.
What’s even worse is Karr Ingham believes that if Biden takes this action and bans U.S. crude oil exports it could drive the prices of oil and gas in the U.S. even higher!
“The key to this is allowing U.S. oil and gas producers to do what they do best to simply get out of their way. Let them go to work,” Ingham said.
“Remove as much uncertainty as can be removed from the legislative, regulatory, and economic environment and let them get back to the business of growing U.S. domestic crude oil production energy production as rapidly as they can,” he further explained.