Why allow crude exports?

01/17/2014
Allowing US exports of crude oil might seem to defy logic. Oil & Gas Journal expects the country to meet 13.4 million b/d of the 18.8 million b/d of oil it will need this year through field production of crude oil, lease condensate, and natural gas plant liquids; renewable fuels; and processing gains. It will import the rest, all net crude oil. So why not retain the effective ban on crude exports? The answer to that question relates to logistical and processing issues in specific regions, especially the Gulf Coast. Thanks to rapid increases in supplies of light oil from low-permeability formations in the US interior and of blended bitumen and synthetic crude from Canada, flows have re...
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