Why Obama and Congress Won't Lift the U.S. Oil Export Ban

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Why Obama and Congress Won't Lift the U.S. Oil Export Ban

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Why Obama and Congress Won't Lift the U.S. Oil Export Ban

by TheStreet 2:11 mins

1,200 views

Why Obama and Congress Won't Lift the U.S. Oil Export Ban

by TheStreet 2:11 mins

1,200 views

The Commerce Department in late June approved Pioneer Natural Resources and Enterprise Products Partners to export condensates abroad, giving advocates hope that Congress will lift its 40-year oil export ban. Analysts at Bank of America, Commerzbank AG and Eurasia Group tell TheStreet's Joe Deaux why Congressional Republicans and Democrats won't move to lift the ban, and they explain why the White House will punt the issue to the next administration. The analysts also explain whether lifting the ban will actually hurt American consumers by forcing them to pay higher gas prices.

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