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Bloomberg: Consultant Says Lifting Export Ban Will Help Economy

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May 29, 2014

IHS Inc. said the U.S. will benefit from increased oil production and lower gasoline prices if the government lifts restrictions on crude exports, according to Bloomberg May 29.

The world’s largest oil consumer might save an average of $67 billion a year from its import bill, as domestic output might rise as much as 949,000 barrels per day (bbl/d) in 2016 with the removal of the export ban, the Colorado-based consultant said in a report May 29. Such a scenario would support 964,000 additional jobs in 2018, it predicted.

“Making ...

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