Today’s Wall Street Journal article by Amy Harder states: “Big voices in the oil industry and Congress now support a move that would have been unthinkable not long ago: opening the U.S. oil industry to exports.”
The reasons couldn’t be clearer. Seven years after the end of the recession, U.S. investment remains sluggish:
Gross nonresidential fixed investment is only 8 percent above it’s pre-recession level. In addition, investment as a percent of cash flow remains a record low levels, see:
Lifting the ban on crude oil exports from the U.S. would help boost investment and job growth.