Energy Department Prepares for Deeper Look at Crude Oil Exports

An empty tanker sits at the pier of Chevron's refinery in Richmond, Calif., which refines roughly 250,000 barrels of oil a day into products like gasoline, diesel and jet fuel.
National Journal
March 4, 2014, 10:02 a.m.

HOU­S­TON — The En­ergy De­part­ment is pre­par­ing new ana­lyses of the po­ten­tial ef­fects of lift­ing U.S. re­stric­tions on crude oil ex­ports as polit­ic­al pres­sure on the Obama ad­min­is­tra­tion to ease the dec­ades-old lim­its in­creases.

Adam Siem­in­ski, head of the En­ergy In­form­a­tion Ad­min­is­tra­tion, said he en­vi­sions a “series of re­ports that be­gin to lay the found­a­tions to al­low poli­cy­makers to un­der­stand the is­sue.”

Siem­in­ski said the re­ports will ex­plore how crude ex­ports would af­fect re­fin­ing, in­fra­struc­ture, trans­port­a­tion, wheth­er con­tinu­ing the heavy re­stric­tions could sty­mie pro­duc­tion, and oth­er top­ics.

“EIA is go­ing to be in­vest­ig­at­ing a num­ber of these things and we will come out from time to time with re­ports that should help poli­cy­makers un­der­stand the is­sues,” Siem­in­ski at the IHS CER­AWeek con­fer­ence here.

“There are a num­ber of factors that go in­to try­ing to un­der­stand the role of ex­ports in the en­ergy area,” he ad­ded, not­ing that he has been think­ing of the top­ic since his ten­ure at EIA, the En­ergy De­part­ment’s in­de­pend­ent stat­ist­ic­al ana­lys­is arm, began.

The En­ergy De­part­ment does not set oil-ex­port policy, but de­part­ment of­fi­cials say they can provide ana­lyt­ic­al as­sist­ance to oth­er of­fi­cials and law­makers.

Ma­jor oil com­pan­ies and some law­makers, not­ably Sen. Lisa Murkowski, an Alaska Re­pub­lic­an, say that the surge in U.S. pro­duc­tion means it’s time to re­con­sider the ma­jor ex­port re­stric­tions im­posed after the 1970s Ar­ab oil em­bargo.

Cur­rent U.S. policy al­lows only a small amount of crude oil ex­ports. Com­pan­ies in­clud­ing Ex­xon and Chev­ron want the lim­its re­laxed.

A pair of Sen­ate Demo­crats last month urged EIA to probe the ef­fects of al­low­ing ex­ports.

What We're Following See More »
BY 180 DAYS
Trump Delays Tariffs on Japanese and European Cars
2 days ago
THE LATEST
WOULD PRIORITIZE SKILLS OVER FAMILY TIES
Trump Unveils New Immigration Proposal
2 days ago
THE LATEST
HE WILL SIT FOR AN INTERVIEW IN MID-JUNE
Trump Jr. Agrees to Testify in the Senate
4 days ago
THE DETAILS

"Donald Trump Jr. has struck a last minute deal to comply with a subpoena from the Senate Intelligence Committee ... Trump Jr. will sit for an interview some time in mid-June for between two and four hours, with the scope limited to five or six topics pertaining to his communications with Russian officials. This will be the last time Trump Jr. has to testify before the Senate Intelligence Committee, according to the terms of the deal."

Source:
STOCKS, DOLLAR FALL IN RESPONSE
China Hits Back with Tariffs on $60B in U.S. Goods
6 days ago
THE LATEST
IN RETALIATION
China Raising Tariffs
6 days ago
THE LATEST
×
×

Welcome to National Journal!

You are currently accessing National Journal from IP access. Please login to access this feature. If you have any questions, please contact your Dedicated Advisor.

Login