David Spence, “U.S. an oil and gas exporter? Not as crazy as it sounds” (San Antonio Express-News)

Professor David Spence, with assistant director for energy and technology policy at UT Austin Energy Institute Fred Beach, published an Op-Ed in the May 1 San Antonio Express-News on the notion that the U.S. could begin exporting both oil and natural gas given domestic production spikes.

In it, Spence and Beach argue that “[t]he ban on the export of U.S. crude oil, enacted amid the oil crisis of the mid-1970s, might have made political and even economic sense at the time, but 40 years it begs to be re-examined.” “Since U.S. consumers and businesses would only suffer from fuel price volatility, it would seem logical that the U.S. should do all it can to unfetter markets, stabilize prices and live up to its reputation as the global champion of free markets,” they recommend.