Biden Administration Considers Ban On U.S. Oil Exports

A potential ban on crude oil exports is under consideration at the White House, a Democratic Congressman told Bloomberg, adding that “The economics of it makes sense.” Rep. Ro Khanna, chair of the environmental sub-panel of the House Oversight and Reform Committee, disagrees with analysts who have been warning that a ban on U.S. oil exports could backfire, ending up in higher prices at the pump. “Limiting U.S. crude to the domestic market means fewer potential buyers, and less demand, for that crude,” wrote Kyle Isakower,…