The White House Is Weighing a Controversial Measure To Lower Gas Prices
With natural gas prices once again soaring, The White House is exploring an option to ban U.S. gas exports.
According to Business Insider, with an export ban in place, gas prices could then fall as the move would protect domestic supply. But oil industry trade groups have criticized the move, warning it could disrupt global energy markets in a Tuesday letter to Energy Secretary Jennifer Granholm.
“Banning or limiting the export of refined products would likely decrease inventory levels, reduce domestic refining capacity, put upward pressure on consumer fuel prices and alienate US allies during a time of war,” the heads of the American Petroleum Institute and American Fuel & Petrochemical Manufacturers wrote.