The earth shakes!!! I am congratulating Obama for doing something RIGHT!!!!

[healthmyths]

The Obama administration cleared the way for the first exports of unrefined American oil in nearly four decades, allowing energy companies to start chipping away at the longtime ban on selling U.S. oil abroad.
U.S. Ruling Loosens Four-Decade Ban On Oil Exports - WSJ

Way to go Obama! NOW this is the type of decisions that HELP the economy!
Exporting oil reduces the negative balance of payments, i.e. instead of more money flowing out to pay for goods coming in, this will in the future
increase the amount of money FLOWING INTO the USA thus reducing the deficit.
It will also increase tax revenue.
It will also encourage more USA oil exploration!

Obama.... You are to be congratulated for your forward economic thinking!

 

[Slyhunter]

He's willing to do anything to make domestic gasoline more expensive.

 

[Wacky Quacky]

He's willing to do anything to make domestic gasoline more expensive.

Which exporting US oil would not do.

 

[Slyhunter]

He's willing to do anything to make domestic gasoline more expensive.

Which exporting US oil would not do.

Yes it would. Being forced to sell the stuff here makes supply here go up and prices go down here. exporting us oil makes supply go up elsewhere and prices go down elsewhere which helps keep prices high here.

I'm not saying it's necessarily a bad idea. It'll give producers a bigger incentive to produce more oil here. I'm questioning Obama's motives as to why he did it.

 

[ClosedCaption]

I thought drilling here meant cheaper gas prices. We get more oil from the US than anywhere else. So why arent the companies yanno, charging less money?

 

[Katzndogz]

He's willing to do anything to make domestic gasoline more expensive.

Exactly! He intends for the domestic supply to be squeezed by exports and drive the price up even higher.

 

[The Rabbi]

Lookup the word "fungible" sometime.
It is a good move. The bigger the market for our oil, the more money we can get for it.

 

[KNB]

From ANWR to Iraq, it's all to pay down the debt to China.

 

[healthmyths]

Well I can understand the issue of more competition from exports for domestic production can affect local gas prices. What we may want though
is to raise Tax revenues from export income rather then this damn discussion of raising Federal gas taxes by 12¢! Maybe if more revenue comes in that might not happen... wistful thinking I know I know!!!!