1) Current production of crude oil we are getting.
Ever since 1970, United States had been getting more crude oil than ever
According to the NYTimes.com, crude oil had reached its peak point ever since 1974 of producing 9.6 million barrels of oil per day in the next upcoming couple of years and clearly this must be looked upon as an advantage
A report made from New Jersey Senator Robert Menendez of January 7th, 2014 the crude oil that is current produced could be used to lower current gas price by 80 cent per gallon in the year of 2016 which would save thousands of dollars within the next couple of years
Clearly see current crude oil could help re innovate the nation’s future.
2) Passing this bill would conflict with China’s crude oil exporting
Currently, there is no other higher competitor besides China when it comes to exporting crude oil and once this bill passes, conflict begins
Starting from the World Trading Organization itself being the fact that the United States has avoid trading disputes with China ever since we had agreed to the Sino-US (Sai-No) trade treaty in which goes against our current policies today if we happen to export any crude oil
Furthermore according to the CATO Institute, accessing this type of trading dispute between the US and China would complicate the Trans-Pacific Partnership, a trading agreement which involves 12 other pacific nations.
** Violates WTO Framework in the rapid increase trading causes disputes between the two countries which is in our best interest to avoid
These type of disputes would lead the TPP to raise the risks of trade promotion authority which will do more harm than good to the included 12 pacific nations
Simply see from this is that something we need to avoid
3) Interferes with international trading
We’ll be interacting with foreign country by crude oil for the first time ever since 1970’s
Current relation with OPEC countries aren’t the greatest as well…