Crude behavior: How lifting the export ban reduces gasoline prices in the United States

The ban on US crude oil exports began as a reaction to the oil embargo in the early 1970s and later was codified in law and Department of Commerce rules for granting export permits. Currently, crude oil can be exported to Canada, but only for use there, not for re-export; from Alaska if it comes through the Trans Alaska pipeline or from Cook Inlet; if it is foreign oil; if it is in conjunction with operation of the Strategic Petroleum Reserve, and for a few other small exceptions. Refined products, however, can be exported without restriction.