493249759

From immigration to tax reform, it is natural for public policy to evolve and adapt in response to the current environment and today’s challenges. This month, Congress answered the need for change in its year-end omnibus deal by including language lifting the restrictions on crude oil exports from the United States. By acknowledging the seismic shift in our nation’s energy landscape – from scarcity to abundance – we now have the potential and the means to define the future of energy in America.

The heightened scrutiny surrounding this policy in recent years has stemmed from drastic changes to the structure of our country’s energy portfolio since the ban’s enactment in the 1970s. Today, the U.S. is producing more than nine million barrels of crude oil per day and inventories are higher than they have been in 80 years. The days of oil shortages and foreign energy embargos are behind us, and accessing the global marketplace will keep the energy industry investing in the U.S. economy, strengthening our infrastructure, and improving technological advancements.

Read more on Forbes.