Re:Finally, no bid on mortgage-backed securities
by kory on Monday June 13, 2022 @10:18AM
(#31725949)
An export ban would place the maximum American crude price at about $70/barrel, since that's a little bit above the shale breakeven price. Prices would tank overnight. There is no conceivable scenario where an export ban would not substantially cut oil prices.
Maybe we won't see $2/gallon again, but $6+/gallon would be a thing of the past.
Banning oil exports would reduce the incentive to pump domestic oil, and, because much of the domestic supply isn't the grades best for producing gasoline, even if it did reduce the price of those grades of crude, it wouldn't do much for gasoline prices.