IHS REPORT: US CRUDE OIL EXPORTS WILL INCREASES WAGES, GDP

IHSA new IHS report, Unleashing the Supply Chain, finds that lifting the 40-year old crude oil export ban will have a dramatic positive impact across the US on supply chain jobs, income, and government revenue. IHS finds that lifting the export ban would support nearly 1 million additional jobs per year during its peak, with 293,000 of those jobs being supported directly though the US crude oil supply chain. Lifting the ban will also boost US GDP growth and household income, according to the report.  US GDP is expected to grow by $26 billion per year, while labor income is expected to increase by about $158 per year, on average, for each household. The report also analyzes the benefits to states and congressional districts of lifting the ban.