Analysis: U.S Crude Oil Production/Exports Benefit American Consumers

Analysis: U.S Crude Oil Production/Exports Benefit American Consumers

Trade groups for the U.S. oil and natural gas industry have released an analysis that shows significant economic benefits to American consumers from the domestic use and export of fossil fuels harvested from the nation’s abundant energy resources.

The study, conducted by the consulting firm ICF and released by the American Petroleum Institute (API) and the American Exploration and Production Council (AXPC), laid out the data.

The announcement about the study said:

[The study] analyzed the six-year period since a bipartisan Congressional majority lifted a ban on exporting U.S. crude oil in December 2015. The study found that enabling open markets increased oil and natural gas development in America, which, over the six-year period, reduced global oil prices by an average of

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