Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

jakeXT

(10,575 posts)
Wed May 14, 2014, 11:10 AM May 2014

U.S. Oil-Export Ban Is Under Review

Top Obama administration officials are considering relaxing federal laws banning crude-oil exports, a move that would upend decades-old policy, cause a political stir in Washington and sway the global oil market.

U.S. Energy Secretary Ernest Moniz said Tuesday that some of the fast-growing supply of domestically produced oil isn't suitable for refining locally, which could warrant re-examining a nearly 40-year-old law that bans exports of most crude.

"The nature of the oil we're producing may not be well-matched to our current refinery capacity," Mr. Moniz said Tuesday after an energy conference in Seoul. The administration is studying the issue, though government officials declined to comment on its scope or timing.

The statements, paired with similar comments by senior Obama counselor John Podesta last week, mark a notable policy shift inside the administration over the past six months.


http://online.wsj.com/news/articles/SB10001424052702303851804579559173078617520

1 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
U.S. Oil-Export Ban Is Under Review (Original Post) jakeXT May 2014 OP
Go ahead - piss off OPEC dipsydoodle May 2014 #1
Latest Discussions»Issue Forums»Economy»U.S. Oil-Export Ban Is Un...