Posted May 14, 2014
U.S. Oil-Export Ban is Under Review
Wall Street Journal (subscription publication): 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.
Read more: http://on.wsj.com/1nKwETW
More industry news:
- North Dakota Keeps Top Spot in Economic Health Ranking: http://bloom.bg/1styWVj
- Op-ed: Boosting Natural Gas Exports Would Fuel the American Economy: http://bit.ly/1k2f3DO
- After Decades of Exodus, Companies Returning Production to U.S.: http://lat.ms/REBaFK
- ConocoPhillips CEO: U.S. Crude Keeping a Check on Global Oil Price Spikes: http://bit.ly/1mVLV4M
- LTE: Fear Tactics More Harmful Than Fracking: http://bcene.ws/1g6c8dQ
ABOUT THE AUTHOR
Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.