Good news out this weekend that the White House may reject the foolish idea on Capitol Hill to ban exports of U.S. oil and diesel. We’ve explained why this won’t work, but we were surprised to learn that even team Biden – hardly free marketeers with any reluctance to regulate industry – had a surprisingly coherent analysis of why this won’t lower prices for consumers.

This was released in 2022 under Biden:

Petroleum liquids markets are global.  Free, unrestricted trade is key for the efficient operation of markets and enabling lowest cost supply.  Export bans would interfere with the efficient flow of crude oil, products, and natural gas, exacerbate the tight supply/demand balance, and increase prices to consumers.  For these reasons, U.S. exports should not be restricted.

If the Biden team got this, why can’t Republicans who supposedly believe in free markets?