For SmartPlanet this week, I explored the debate over whether the US should lift its ban on exporting crude oil. But whereas most of the opposition to lifting the ban has focused on jobs and prices, I see another even more important angle: the long-term energy security of the United States. In the 1980s, Britain went all-out on producing its North Sea oil and gas for export, and now it is paying punishingly high prices for imports of both, as well as for gas-fueled grid power. Do we really want to make the same mistake in this country, considering that several good, transparent models show US tight oil peaking and going into decline within the next 7 years?
Read it here: Why the US should not export oil