This One Policy Switch Could Make Gas Way Cheaper

For nearly 40 years, there’s a been a ban on exporting crude oil from the United States to other nations in the world.

Now, a just-released study from a liberal think tank says lifting the ban could boost the U.S. economy between $600 billion to $1.8 trillion and save motorists up to 12 cents a gallon at the pump.

Researchers for the Energy Security Initiative of the Brookings Institution called the ban “an anachronism that has long outlived its utility and now threatens to impair, rather than protect, U.S. energy, economic, and national security” and cites modeling that predicts broad-based economic benefits that include more jobs, better wages and higher gross domestic product if the ban was ended.

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