"CNN: Palin’s suggested oil export ban ‘not exactly easy to understand.’"
This afternoon on CNN, host Wolf Blitzer showed video from last night’s townhall with Sen. John McCain (R-AZ) and Gov. Sarah Palin (R-AK), in which Palin — whom McCain said “knows more about energy than…anyone else in the United States” — was asked how she would keep oil from new domestic drilling in the U.S. market. In a serious understatement, Blitzer called her answer “not exactly easy to understand.” Watch it:
As the law stands now, expanded domestic drilling would have no impact on U.S. gas prices precisely because “oil is a global commodity whose price is set by global supply and demand.” Is Palin calling for a total export ban?
“Oil and coal? Of course, it’s a fungible commodity and they don’t flag, you know, the molecules, where it’s going and where it’s not. But in the sense of the Congress today, they know that there are very, very hungry domestic markets that need that oil first,” Palin said. “So, I believe that what Congress is going to do, also, is not to allow the export bans to such a degree that it’s Americans that get stuck to holding the bag without the energy source that is produced here, pumped here. It’s got to flow into our domestic markets first.”