HOUSTON, March 23, 2015 /PRNewswire-USNewswire/ -- A new study on the effects of lifting the 40-year-old export ban on U.S. crude pricing, energy security and energy sector investment will be presented by Kenneth Medlock, senior director at the Center for Energy Studies at Rice University's Baker Institute for Public Policy, at a news conference at 10 a.m. EDT March 25 at the National Press Club, 529 14th St. N.W., Washington, D.C., in the Zenger Room on the 13th floor.
Medlock's research assesses a wide range of crude oil prices, from $40 per barrel to $120 per barrel. This, along with the fundamental approach taken in the study, distinguishes it from previous studies. The study highlights, among other things, the importance of addressing this policy issue even in the current low-price environment.
Who: Kenneth Medlock, senior director for Center for Energy Studies, Rice University's Baker Institute for Public Policy.
What: News conference to unveil study.
When: 10 a.m. EDT Wednesday, March 25.
Where: National Press Club, 529 14th St. N.W., Washington, D.C., 13th floor, Zenger Room.
Other studies do not fully account for the higher qualities of crude oil that are now being produced in the U.S. The Center for Energy Studies paper includes a statistical analysis that explains what the relationship would be between the prices of crudes of different qualities in an unconstrained setting, which, according to Medlock, is important to providing a more accurate assessment of the impact of current U.S. policy.
The study includes an analysis of the U.S. energy security benefits of ending the restrictions on oil exports by highlighting the relative costs and benefits of the status quo. In doing so, the study argues that the implications for overall market function, infrastructure investment and energy sector activity are all positive. More generally, the study reveals that removing the ban generates distinct energy security benefits, a result that may be counterintuitive to some.
Medlock will give a brief presentation and then be available for questions from the podium and one-on-one interviews following the event.
For more information or to schedule an interview with Medlock, contact David Ruth, director of national media relations at Rice, at david@rice.edu or 612-702-9473.
Follow Rice News and Media Relations on Twitter @RiceUNews.
Follow Rice University's Baker Institute on Twitter @BakerInstitute.
The Center for Energy Studies at Rice University's Baker Institute is ranked fourth globally among all energy and natural resource think tanks. The center is renowned for its non-partisan, in-depth, data-driven analysis of energy markets and the effects of policy interventions.
Located on a 300-acre forested campus in Houston, Rice University is consistently ranked among the nation's top 20 universities by U.S. News & World Report. Rice has highly respected schools of Architecture, Business, Continuing Studies, Engineering, Humanities, Music, Natural Sciences and Social Sciences and is home to the Baker Institute for Public Policy. With 3,888 undergraduates and 2,610 graduate students, Rice's undergraduate student-to-faculty ratio is 6-to-1. Its residential college system builds close-knit communities and lifelong friendships, just one reason why Rice is ranked among some of the top schools for best quality of life by the Princeton Review and for best value among private universities by Kiplinger's Personal Finance. To read "What they're saying about Rice," go to http://tinyurl.com/AboutRiceU.
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SOURCE Rice University
