EEIA Briefs House Staffers on Benefits of Crude Exports
May 27, 2015
EEIA's Toby Mack joined a panel of industry and research experts to brief House of Representatives staffers on the powerful job creation and economic output potential in the supply chain if the crude oil export ban were lifted. The briefing was sponsored by the House Small Business Committee. Also on the panel were Charles Ebinger of the Brookings Institution, Marianne Kah, Chief Economics of ConocoPhillips, and Jay Hauck of the CRUDE Coaliton.
Mack reported data from a recent IHS study that found that 440,000 jobs and $64 billion of new supply chain business would be created by 2018 if the ban were lifted this year. Jobs and output would be spread among all 50 states and most congressional districts. EEIA also estimates that over 100,000 of the energy supplier firms are small businesses.
He concluded that the recent downturn in drilling activity has caused considerable job losses among energy suppliers, and that lifting the export ban would help turn that around.
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