The Nation's Energy Progress Report: Crude Exports Key to Economic Growth for All Communities

WASHINGTON, Sept. 18, 2015 /PRNewswire-USNewswire/ -- The National Association of Neighborhoods and the American Council for Capital Formation held a panel discussion today at the Congressional Black Caucus Foundation's Annual Legislative Conference which examined both the challenges and opportunities in the nation's energy landscape. The discussion primarily centered on the outdated ban on crude oil exports and how that policy prevents the United States from realizing the full benefits of its abundant energy reserves.

Ricardo Byrd, moderator of today's panel and executive director of the National Association of Neighborhoods, commented: "The good news is that it appears energy legislation ending the ban on crude oil exports is finally moving forward on Capitol Hill. My goal is to see that communities of color fully benefit from our nation's energy abundance.  Changing America's energy policy to allow crude oil exports would go a long way towards creating a long overdue economic renaissance in our poorest, rural and urban neighborhoods."

"The United States continues to sit on the global sidelines by refusing to adopt a 21st century energy policy that takes full advantage of our energy resources," added Dr. Margo Thorning, ACCF Senior Vice President and Chief Economist.  "And those abundant resources, unimaginable forty years ago, now put us in the position to become a powerful player on the world's energy stage.  The significant economic benefits that would result – increased economic growth, more jobs for Americans and downward pressure on gas prices – are undeniable. Today's discussion makes clear that it is finally time for the United States to embrace an energy policy that reflects the reality of our energy present, not the ghosts of our energy past."

Other panelists at today's discussion were: Paula Jackson, President and CEO, American Association of Blacks in Energy, and Bill Dickens, Senior Utilities Economist, Tacoma Power & Pacific Northwest Chapter President for American Association of Blacks in Energy.

For more information about the crude oil export ban, including studies and information highlighting the benefits of eliminating the decades old policy, visit www.unlockcrudeexports.org.

SOURCE American Council for Capital Formation

Related Links

http://www.unlockcrudeexports.org