A new report from the Energy Information Administration suggests refiners can — and will — invest in new equipment to process the light oil flowing out of U.S. wells today, but a debate over crude exports could undermine some of those plans.
The American Fuel and Petrochemical Manufacturers, which commissioned the analysis, hopes it will debunk oil producers’ chief argument for crude exports by proving that refiners have the capacity to consume light, sweet U.S. crude.
Ending the United States’ longstanding ban against most crude exports could lift oil prices inside the country while decreasing the cost of gasoline, according to a Government Accountability Office report released Monday.
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