US Should Lift Crude Oil Export Ban - Washington Post

Posted by Eric Haun
Thursday, August 07, 2014

The United States should lift its nearly four-decade ban on crude oil exports to help encourage domestic production, the Washington Post said in an editorial on Thursday.

Booming shale oil production has led to an intense debate over the moratorium, which was imposed by Congress in 1975 in the wake of the Arab oil embargo.

Allowing crude oil exports would help address a mismatch between rising light crude output from U.S. shale formations and Gulf Coast refineries better suited to handle heavy crude, the Post argued in an editorial.

"The export ban was a desperate ploy in the 1970s to control commodities markets amid spikes in oil prices induced by the Organization of the Petroleum Exporting Countries," the newspaper said. "Keeping it in place now is an economically incoherent policy."

Earlier this summer, the U.S. Commerce Department ruled that energy companies could export ultra-light crude, known as condensate, if it has been minimally processed.

The Post said the Commerce Department should continue to allow as many crude oil exports as legally possible until Congress acts to remove the ban.

The editorial can be read here: http://wapo.st/X3gBWR

(Reporting by Ayesha Rascoe; Editing by Paul Simao)

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Petrobras Downgrade Shakes Market

Moody's shocked bond investors this week with a surprise two-notch downgrade that put Brazilian oil company Petrobras in junk territory. The move was seen by some investors as overly assertive,

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

News

USCG Free Boat from Ice Near Woods Hole

A Coast Guard crew responded to a fishing vessel trapped in ice in Woods Hole Passage, Woods Hole, Massachusetts, Saturday. At about 3 p.m., the crew of the fishing boat Capt.

Tug Boat Owner Jailed After Crew Man Dies

A tug boat owner was today was given an 8 month custodial sentence after his crew member died trying to reattach a tow line in a violent storm. During today’s hearing at Southampton Crown Court,

COMPIT to Showcase Smarter Ships, Systems & Solutions

The 14th International Conference on Computer and IT Applications in the Maritime Industries (COMPIT) will take place from 11th to 13th May 2015 in Ulrichshusen, Germany.

Government Update

Indian Ports to Set Sail on Corporatization

Indian Finance Minister Arun Jaitley said in Union Budget 2015 that government-run ports in India will be encouraged to corporatize and become companies under the Companies Act.

Crimea Nationalizes Cargo Port in Kerch

The Crimean State Council nationalized the Kerch-based cargo port Kamysh-Burun belonging to the Ukrainian financial-industrial group Altcom.   According to Crimean Parliament,

LA, Long Beach Ports Cooperation Approved

Federal regulators approve expanded working pact for Port of Long Beach and Port of Los Angeles to cooperate on congestion relief   The ports of Long Beach and

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1850 sec (5 req/sec)