In a recent speech at the Brookings Institute, Larry Summers made a concise but convincing case to remove the U.S. government’s ban on crude oil exports. Here at IER, we have already made many of these points (see Rob Bradley’s post and my follow-up), but it is refreshing when Summers, the former Secretary of the Treasury in the Clinton Administration and former top economic advisor to President Obama, makes points that echo what we have previously said. Furthermore, I’ll show that Summers supplements the foundational points with some additional observations showing that the case for allowing the free export of crude oil is a no-brainer.
