So far, most of the congressional debate on crude exports has focused on the economics of the issue, but former Amb. Carlos Pascual’s comments amplify geopolitical concerns with the longstanding trade restrictions for oil.
Oil processed in distillation towers is broadly okay for export, according to the new guidance document from the Commerce Department. But oils that are simply run through heater treaters are still ensnared by the 39-year-old ban on crude exports.
The State Department on Friday said the Keystone XL pipeline is unlikely to dramatically boost demand for Canada’s oil sands, delivering a verdict that angered environmentalists even as it gave President Barack Obama the evidence he needs to approve the controversial project.
With the Obama administration on Wednesday approving a fourth company’s plans to sell natural gas overseas, some lawmakers and manufacturers said it’s time for the federal government to reassess the economic risks of those export approvals.
The Obama administration licensed a third company to broadly sell U.S. natural gas overseas on Wednesday, renewing fears that widespread exports of America’s bounty could spike domestic prices for the fossil fuel.
President Barack Obama on Tuesday put climate change at the center of the heated national debate over the controversial Keystone XL pipeline by insisting in a major policy speech that the project’s fate hinges on how much carbon dioxide it contributes to the atmosphere.
You wouldn’t know it from the oil industry’s angry reaction, but the Obama administration’s latest plan to tighten standards for drilling on public lands gives more ground to the private sector at the expense of environmentalists who pushed for tougher protections. Analysts said that’s a fresh sign that the Obama administration supports shale gas development and the payoff that comes from increased domestic energy production.
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