Marketplace · Thursday, August 6, 2026
The American oil industry has reportedly approached the White House to prevent a potential oil export ban. This comes as the US faces another global oil crisis and higher gas prices, with industry experts warning such a ban could harm domestic production and refineries.
“As we face another global oil crisis. And higher gas prices.”
“There was political pressure for politicians to do whatever they can to help consumers or even look like they're trying to help consumers, whether the tools are effective or not.”
“You would worsen the economics of domestic refineries, you'd worsen the economics of domestic oil production.”