Writing for Time, Bryan Walsh explored the future of oil exports from the United States in light of increasing violence in Iraq. Although he noted that it is not easy to predict the future of oil and energy, Walsh suggested that the U.S. could play an even bigger role on the global oil and energy markets in the future.
As quoted in the publication:
A report by the research firm IHS found that lifting the ban would lead to more than $700 billion in additional investment in oil extraction between 2016 and 2030, and would increase oil production by an average of 1.2 million barrels a day. And given that global crude demand is expected to rise by about that much over the next several years, that oil could be very useful indeed—especially if today’s fighting in Iraq is only the beginning.
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