Move carefully on crude exports, refiner urges House subcommittee

04/14/2014
Tight oil formations have helped the US increase its crude production dramatically, an independent refiner conceded. But the nation should proceed cautiously as it considers authorizing more crude oil exports, he told a US House Foreign Affairs Committee subcommittee. "For decades, this country has worked to become energy secure or even energy independent, and now just recently, the expansion of production from both traditional and non-traditional sources has allowed the country to make great progress toward that goal," said Michael Jennings, chief executive officer of Houston-based HollyFrontier Corp., on Apr. 2. Higher US crude production also has reduced refined product costs...
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