The policies to ban exporting oil and gas started in the early 70’s due to the 1973 Oil Embargo that crippled the U.S. economy and opened our eyes to our reliance of oil and gas from countries that do not hold our best interest in mind. In 1973 Egypt and Syria tried to win back a territory lost to Israel in 1967 during a conflict between the Arabs and Israel known has the Arab/Israeli War. Moving forward to 1973 on Yom Kippur, a Jewish holiday, Egypt and Syria invaded Israel to try to reclaim the lost territory again but where not able to overcome the Israel army. The United States helped supply Israel with reinforcement, in the eyes of the Arabic nation’s support our Israeli ally was not considered highly. Many of the unhappy Arabic nations where members of OPEC and decided to create an oil embargo against the United States, the largest consumer of oil and gas. The embargo had a created an “oil shock” crippling the U.S. economy, oil supplies where low, inflation began to increase, and the U.S. econ...
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...y dangerous and difficult job, harnessing the earth using man made products and the labor of humans as proven to result in negative environmental issues and disasters. Depending upon what you value highest deems what political line you approach with the oil and gas industry.
The cost benefits of releasing the Acts could produce many positive and negative benefits but the definitive outcome has yet to establish an amenable conclusion. Motivates and The U.S. would reap more benefit if the exports of oil and gas increased but ultimately the overwhelming personal views will mold our elected officials potential action or lack of action of exporting oil and gas. Unfortunately I highly doubt the U.S. will ever remove the bans because it has taken our elected officials over five years to decide whether the TransCanada Pipeline should pass through Western Nebraska.
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