Congress Considers Lifting Oil-Export Restrictions

WASHINGTON - JUNE 15: U.S. Sen. Ron Wyden (D-OR) (C) speaks as Sen. Charles Schumer (D-NY) (L) and Sen. Mark Begich (D-AK) listen during a news conference June 15, 2010 on Capitol Hill in Washington, DC. The senators called on BP to abandon its reported plans to set aside billions for a shareholder dividend until it proves it has enough funds to cover liabilities claims from the oil spill disaster in the Gulf of Mexico. 
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Clare Foran
Nov. 7, 2013, 3:47 a.m.

Con­gress is likely to take up de­bate on wheth­er re­stric­tions on U.S. oil ex­ports should be lif­ted in the near fu­ture, ac­cord­ing to Bloomberg.

Sens. Lisa Murkowski, R-Alaska, and Ron Wyden, D-Ore., the rank­ing mem­ber and chair­man of the Sen­ate En­ergy and Nat­ur­al Re­sources Com­mit­tee, re­spect­ively, both in­dic­ated through spokes­men that they would be will­ing to con­sider in­creas­ing do­mest­ic oil ex­ports. Wyden noted, however, that he would only sup­port a rise in ship­ments of oil to for­eign coun­tries if it was clear that Amer­ic­an con­sumers would be­ne­fit.

The news comes on the heels of a re­port by Bloomberg on Wed­nes­day that the largest trade as­so­ci­ation for the U.S. oil and gas in­dustry, the Amer­ic­an Pet­ro­leum In­sti­tute, is con­sid­er­ing a push for ex­pan­ded pet­ro­leum ex­ports.


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