Thanksgiving is nearly upon us, and many of us will spend time with our families eating too much food and strategically waiting for couch spots to open up so we can sneak in a quick catnap when our unsuspecting relatives abandon their posts for another slice of pie. It’s a time when we are thankful for the friends, family, and food. We should also be thankful for fracking. Although many people may not know it, fracking has lowered the cost of energy and other goods and services, makes America more energy-independent, and it is done in an environmentally responsible way.
The crude oil export ban was signed into law in 1975 in the wake of the Arab oil embargo that brought long lines for gasoline and high oil prices. Today, by contrast, hydraulic fracturing, also known as fracking, has made the United States the world’s largest producer of crude oil. The outdated export ban puts U.S. oil producers at a competitive disadvantage with other countries, and may actually serve to increase gas prices at the pump.