The Washington Examiner recently published an article entitled “Oil industry starts to push to end ban on exports of crude oil.”
That article reported, in part, that:
“The oil and gas industry is seizing on recent comments by [U.S. Department of] Energy Secretary Ernest Moniz to push for an end to the United States’ 40-year-old ban on crude oil exports.
“The American Petroleum Institute says the U.S. energy boom has made the ban irrelevant, citing Energy Information Administration projections this week that domestic oil production would hit a near-record 9.5 million barrels per day by 2016.”
That’s interesting—especially the fact that the ban on sale of US crude to foreign countries began about 40 years ago.