White House says it's not planning oil or gas export restrictions

"While legally feasible, export restrictions would likely backfire - offering limited relief to US consumers while imposing economic and geopolitical costs. Scholars with Columbia University's energy think tank emphasized this concern, suggesting that restricting exports would not effectively address consumer prices while creating broader negative consequences for the economy and international relations."

The U.S. administration officially stated that oil and gas export restrictions are not under consideration as a policy response to rising energy prices. Analysts have warned that export restrictions would likely backfire, providing minimal consumer relief while creating economic and geopolitical costs. Instead, administration officials are pursuing multiple alternative strategies to address soaring prices, including releasing oil from the Strategic Petroleum Reserve, waiving sanctions on Russian oil, and relaxing maritime shipping regulations. U.S. gasoline prices have increased nearly 90 cents per gallon since recent geopolitical conflicts began. Treasury Secretary Scott Bessent indicated potential future measures could include waiving sanctions on Iranian oil.

Read at Axios