Sens. Wyden, Udall, Paul, And Blumenthal Discuss Principles For Surveillance Reform

Time and again when the prospect of exporting US crude oil is discussed, the issue of domestic gasoline price impacts surfaces. Will consumers pay more or less at the pump? There is no shortage of debate on the topic, but some analysts contend the increased volumes of light sweet crude US exports would feed into the global market would put downward pressure on Brent prices, the international benchmark to which US gasoline prices are dominantly linked. Now the Senate Energy and Natural Resources Committee is asking the EIA to weigh in on the question.

Senator Ron Wyden, Chair of the Energy and Natural Resources Committee, and senior committee member Maria E. Cantwell sent a letter to EIA Administrator Adam Sieminski earlier this week requesting information about how exporting US crude oil might impact domestic supply/demand fundamentals and gasoline prices.

“We would like to understand how allowing unlimited export of American crude oil might affect US oil production and consumption, nationally and regionally; domestic supplies and prices, nationally and regionally, for both crude oil (paid by refiners) and refined products (paid by consumers); and exports of refined products,” said the Senators as reported by Oil & Gas Journal