Collin Eaton of The Wall Street Journal reports on the Biden administration asking companies to limit fuel exports.
- With gas prices expected to rise, the Biden administration has urged oil companies to reduce exports to refill tanks in the Northeast.
- Limiting exports will reduce the global supply of oil and lead to price increases.
- To help the Northeast meet their energy needs, policymakers should consider waiving Jones Act requirements to allow fuel to be delivered in a more timely and efficient manner.
- Rather than asking companies to reduce output, lawmakers should reduce barriers to allow the private sector to thrive and innovate.
Read the full article here.