Lifting US Export Restrictions Would Lower Gas Prices – IHS

May 30, 2014

an annual average of 222,000 additional jobs supported for the remaining years of the study period.
 
Gross domestic product would rise by nearly $73 billion in 2016. The amount would increase to more than $134 billion additional GDP in 2018 and settle at an additional $106 billion in 2020. It would then average an additional $73 billion annually for the remainder of the study period.
 
Total government revenues would increase by a combined $1.3 trillion over the course of the study period, beginning with nearly $29 billion additional revenues generated in 2016. That amount would rise to $42 billion in 2020 and grow to $105 billion in 2025 before reaching more than $158 billion in 2030.
 
The average disposable income per household would increase by an additional $391 in 2018 as benefits from increased investment, additional jobs and lower gasoline prices are passed along to consumers. That figure is expected to be an additional $332 in 2020 and average an additional $193 per year for the remainder of the study period.

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Download U.S. Crude Oil Export Decision: Assessing the Impact of the Export Ban and Free Trade on the U.S. Economy www.ihs.com/crudeoilexport.

Copyright, IHS, 2014.