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The administration of U.S. President Barack Obama is not “overly concerned” about the lifting of a ban on U.S. crude oil exports included in a new omnibus spending bill, saying oil products were already being exported under various waivers, the White House said on Wednesday (December 16). The United States “already exports 4.3 million barrels a day of refined petroleum product, and there are there were already written into the law a handful of waivers […]
(Reuters) – In one of the most optimistic assessments about unlocking U.S. crude exports, the IHS report said gasoline prices would fall some 8 cents a gallon because overturning the ban would pour crude onto oil markets and lower global fuel prices. Government revenues from energy-related taxes and royalties would increase $1.3 trillion from 2016 to 2030. Jobs during that period, in both crude production and at oil field service companies, would rise an average […]
