Blind spot in US trade policy on energy

The API has said that a new federal report on barriers to made in American exports fails to consider restrictions on LNG and 1970s era limits on US crude oil. API Executive Vice President, Louis Finkel said, “the White House is focused on trade barriers overseas, but some of the worst limits on US exports are imposed by our own outdated policies. We can’t call for our allies to open their doors to trade while closing our own. Study after study shows that free trade in crude oil would promote the creation of US jobs, out downward pressure on fuel costs, and strengthen America’s diplomatic influence overseas. At the same time, dozens of LNG export terminals could wait years for permits.

“The US Trade Representative says that exports are central to the president’s economic agenda, but some policymakers seem to have a blind spot when it comes to energy. Our growth as a global energy superpower has been a game changer for US energy security. We can’t expect that growth to continue if our own trade policies stand in the way. Free trade will allow US producers to compete effectively for a share of the global market while helping diminish the influence of nations that use energy as a tool against our allies.”

Edited from press release by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/refining/07042015/us-energy-policy/