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Fiscal conservatives had mixed emotions, to say the least, about the $1.6 trillion omnibus budget bill that was corralled through Congress by Republicans and Democrats alike. Among the few bright spots of this pork-laden spending package was a provision to lift the crude oil export ban which has been in effect since the Carter administration.
Heartland Institute Research Fellows Bette Grande and Isaac Orr discuss the impact lifting the crude oil export ban will have on oil production in the United States, and how it may influence politics globally. In addition, Grande and Orr talk about the hefty cost taxpayers will dish out for the renewable energy subsidies that were attached to the bill by Democrats as a condition for supporting oil exports.