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Should We Allow U.S. Oil For Export?

Mike

Well-known member
http://www.cfr.org/oil/case-allowing-us-crude-oil-exports/p31005

I always question the Council of Foreign Relations, but this would help correct our trade imbalance until we can decrease our deficit, thus lower our interest expense. (But with Buckwheat writing checks that is also highly doubtful.) :roll:
 

Steve

Well-known member
I think we already can export refined product.

It is worth bearing in mind that for 2013 as a whole, petroleum exports comprised just 8.6 percent of all exports, so it is not a huge share. But January saw a pullback in petroleum exports of just over $1 billion, even as petroleum imports increased more than $2.6 billion. In fact, if we were to strip away the petroleum trade figures,

and I believe we already have exported Alaskan crude and NG

Oil production has grown more in the United States over the past five years than anywhere else in the world, even as domestic oil consumption has declined. With these changes has come a widening gap among the types of oil that U.S. fields produce, the types that U.S. refiners need, the products that U.S. consumers want, and the infrastructure in place to transport the oil. Allowing companies to export U.S. crude oil as the market dictates would help solve this mismatch. Under federal law, however, it is illegal for companies to export crude oil in all but a few circumstances. Over the past year, the Department of Commerce granted licenses to several oil companies to export a small amount of U.S. crude oil.

in my opinion we should allow some. but not much. .. refining is a HUGE job source. and increase the value of the refined over crude exports is US jobs..

I am willing to take a small cut in my investments to see more US jobs.

the simple truth is if it was profitable to export crude.. it would be done more now under the existing licensing.
 
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