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 →
US Crude Oil Exports
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We will never sell or share your information without your consent. See our privacy policy.Energy Quote of the Day: ‘The Big News in the Oil Markets is Not Just Lower Prices…’
By Jared AndersonThe downward trend in global oil prices that garnered so much attention – and hyperbole – over the past couple of weeks also revived interest in the US crude oil export conversation. The million dollar question with regard to US oil exports is how additional volumes of US crude on the global market would impact… Keep reading →
Energy Quote of the Day: ‘The Gulf Coast is Going to be the Place for Having Any Storage’
By Jared AndersonThe US Gulf Coast is becoming the country’s preeminent petroleum storage hub as shale oil and natural gas liquids flow south to the massive refining and export center. In a move designed to capitalize on that trend, Enterprise Product Partners yesterday announced the $4.4 billion acquisition of storage company Oiltanking. And according to The American… Keep reading →
Energy News Roundup: Oil by Rail Regulations, Compelling Crude Export Case and Will US Sanction Gazprom?
By Jared AndersonCrude oil transportation in the US ballooned to 1 million barrels per day in recent years as production swelled beyond existing pipeline infrastructure capacity. A series of explosive accidents involving crude oil train cars has sparked regulators to strengthen rules and safety measures governing these pipelines on wheels. “Tens of thousands of these older tank… Keep reading →
Recent Improvements in Petroleum Trade Balance Mitigate U.S. Trade Deficit EIA Today in Energy: Since the mid-1970s, the United States has run a deficit in merchandise trade, meaning that payments for imports exceeded receipts for exports. This large and growing deficit on the merchandise trade balance reached a maximum of $883 billion in the second… Keep reading →
Daniel Yergin, Pulitzer Prize winning author and Vice Chairman of global consulting firm IHS spoke at the 2014 EIA Conference in Washington D.C. on Monday. EIA, the U.S. Energy Information Association is the statistics arm of the federal Department of Energy and the conference featured leading figures from industry, academia and government. Yergin stated emphatically… Keep reading →
Energy News Roundup: Oil Exports in Spotlight, Pay Moves in Step with Oil & Gas Industry and Energy Producing Home
By Jared AndersonThe topic of exporting US oil – or minimally processed condensate – was one of the hottest at the EIA’s energy conference, which kicked off yesterday in Washington DC. “John Auers, executive vice president of the engineering firm Turner, Mason & Co., said rulings by the U.S. Commerce Department allowing two Texas companies to sell… Keep reading →
Energy News Roundup: Swaps Could Circumvent Crude Export Ban and European Firms Search for Alternative Fuels
By Jared AndersonUS oil producers are leaving no stone unturned in their quest to export light, sweet crude that has swelled to a glut overwhelming the country’s refineries. One option could be to swap US crude for grades produced overseas that are better suited to the US refining complex, but a host of regulatory and market-based obstacles… Keep reading →
Adding Up the Benefits from Harnessing U.S. Energy
By Energy Tomorrow BlogAllowing Exports of Crude Oil Would Boost the Economy Washington Post Editorial: Quietly but wisely, the Commerce Department has decided to allow the first exports of U.S. crude oil since Congress imposed a ban on such sales (except to Canada) in the 1970s. To be sure, the agency’s ruling amounts to redefining crude in a way that applies… Keep reading →
Opinion: Climate, US Oil Exports and Energy ‘Less Dependence’
By Bennett ResnikCongress is currently involved in a highly polarizing and critical topic regarding America’s future: energy sources and the economic and environmental costs of our current regulations and policies. Several Senate and House committee hearings reflect this: hearing on “Laboratories of Democracy: The Economic Impacts of State Energy Policies,” “Modernizing the Business of Environmental Regulation and… Keep reading →