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The commercial deals Trump struck on artificial intelligence cooperation will likely shift the global balance of power for one of this century's most critical technologies.
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On June 12th, Israel carried out overnight airstrikes targeting Iranian nuclear facilities, military infrastructure, military leaders, and nuclear scientists. While the full scope and implications of the attack...
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Join Powerless author and CGEP Co-Director of the Energy Opportunity Lab Diana Hernández and CGEP Founding Director Jason Bordoff for a special conversation co-hosted by CGEP and Resources for the Future (RFF) on the book's major findings.
Testimonies & Speeches by Jason Bordoff • April 14, 2015
Founding Director Jason Bordoff testified on the US oil export ban before the Committee on Foreign Affairs, Subcommittee on Terrorism, Nonproliferation, and Trade in the House of Representatives. His conclusion is below and the full written testimony is available here (PDF).
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Conclusion
Today’s oil market looks very different than it did in the 1970s when current crude oil export restrictions were first put in place. At that time, the United States had adopted domestic price controls to combat inflation, and crude export restrictions were necessary to make those price controls effective. While price controls have long since fallen away, crude export restrictions remain. While the magnitude and timing of the impact of easing the export restriction is uncertain, particularly given the recent oil price collapse, the direction is clear: allowing US oil exports will boost US oil supply and economic activity, along with resilience to supply disruptions, credibility in the trade realm, and geopolitical influence. While trade restrictions are not an appropriate or cost- effective way to reduce greenhouse gas emissions, it is critical that more aggressive policy actions be taken to address climate change. The current statutory restrictions on oil exports are a legacy of a bygone era that doesn’t reflect today’s energy reality. On economic, security and geopolitical grounds, they should be lifted.
The commercial deals Trump struck on artificial intelligence cooperation will likely shift the global balance of power for one of this century's most critical technologies.
President Donald Trump's first official foreign policy trip, as in his first term, was to Saudi Arabia earlier this month, with additional stops in Qatar and the United Arab Emirates.
Full report
Testimonies & Speeches by Jason Bordoff • April 14, 2015