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Oil Exports: The Week’s Biggest Debate (and Wait 'Til Next Year) Oil Exports: The Week’s Biggest Debate (and Wait 'Til Next Year)

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Oil Exports: The Week’s Biggest Debate (and Wait 'Til Next Year)

Oil Exports: The Week's Biggest Debate (and Wait 'Til Next Year)

Prominent voices in the energy sphere are touching on one of the few remaining third rails in energy politics: crude-oil exports.

 

On Thursday, Energy Secretary Ernest Moniz cautiously indicated that the U.S. government may need to revisit its ban on crude oil exports, which has been in place since the 1970s oil embargo.

This comes on the heels of ExxonMobil publicly calling to remove the restriction. Earlier this fall, Continental Resources Founder and CEO Harold Hamm called the ban "an archaic rule that should be done away with."

These are early signs of a push the oil industry will make even more forcefully next year to remove the ban in an era when America is producing more oil than it has in almost 30 years.

 

Good luck getting Congress—including die-hard capitalistic Republicans—on board with this idea any time soon.

Amy Harder
@AmyAHarder
aharder@nationaljournal.com

TOP ENERGY NEWS

By Clare Foran (@ckmarie) and Ben Geman (@Ben_Geman)

EPA SHARPENS CLIMATE FOCUS WITH STAFF CHANGES. Administrator Gina McCarthy has shuffled agency staff with an eye toward Obama's second-term agenda.

 

IS IT TIME FOR THE US TO START EXPORTING CRUDE OIL? Energy Secretary Ernest Moniz said the near-ban on U.S. crude oil exports is ripe for revisiting, comments that arrive as major producers including ExxonMobil are pressing to relax limits imposed in the 1970s.

GORE PUSHES DEMS TO ACT ON CLIMATE. The former vice president met with Senate Democrats Thursday in a bid to spur action on climate change.

MAJORITY OF AMERICANS THINK KEYSTONE WOULD BENEFIT U.S. According to a new poll, 56 percent of Americans believe the pipeline would boost domestic energy security.

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DOE ANNOUNCES INVESTMENT IN SMALL-SCALE REACTORS. The department will continue to invest in small modular reactors as part of the president's "all of the above" energy strategy.

INDUSTRY TAKES ISSUE WITH TAX PROPOSAL. Oil and natural gas industry stakeholders say a proposal to overhaul the tax code could spell disaster for America's domestic energy boom.

MURKOWSKI PUSHES FOR CRUDE EXPORTS. Sen. Lisa Murkowski, R-Alaska, wants the U.S. to begin exporting crude oil and will soon release a white paper examining the possible benefits of doing so.

NORTH DAKOTA OIL-BY-RAIL PROJECTED TO RISE. That's according to Lynn Helms, the director of the Department of Mineral Resources for the state.

MEXICAN ENERGY SECTOR OVERHAUL NOT QUITE FINISHED. The proposal which passed the Mexican Congress on Thursday still needs to be approved by a number of state legislatures.

FEDERAL EXPORT BANK LIMITS COAL PLANT FINANCING. The Export-Import Bank vowed to restrict financing for overseas coal-fired power plants.

HAPPENING MONDAY

ENERGY OUTLOOK RELEASE. The Energy Information Administration holds a press conference to present its annual Energy Outlook 2014 Early Release Overview.

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