Crude Oil Export Policy

Congress Reconvenes After Midterm Elections

On December 18, 2015, President Obama signed into law the Consolidated Appropriations Act, 2016 (H.R. 2029), which includes multi-year extensions for federal tax incentives for wind and solar generation facilities and lifts the 40-year-old ban on crude oil exports from the United States. The $1.1 trillion spending bill, which funds the government through September 2016,… Keep reading →

U.S. Trade Deficit Reaches All-Time High

The U.S. Department of Commerce’s (DOC) Bureau of Industry and Security (BIS) is the section in charge of regulating exports of crude oil. The U.S. is producing more oil than it has in the previous decades; however, a government ban on crude oil exports has created an oversupply, resulting in opportunities for numerous industry players. The… Keep reading →

Oil Price Rise Sees Increase in Suez Canal Traffic

The Brookings Institute in Washington DC has come out in favor of lifting the U.S. ban on crude oil exports. Brookings hosted an event on Sept. 9 to unveil their new report titled “Changing Markets: Economic Opportunities from Lifting the U.S. Ban on Crude Oil Exports” written by Charles Ebinger and Heather Greenley and based… Keep reading →