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US to Allow Oil Exports for First Time in 40 Years

2014-12-31 23:59:00| Climate Ark Climate Change & Global Warming Newsfeed

Israel National News: Already lower than it has been in nearly a decade, the price of oil is likely to drop even further. The United States, now officially the world's largest oil producer, will, for the first time since 1975, allow the export of made in USA oil. Oil producers will be able to export light crude condensate to any country not on a US sanctions list, without receiving a special export permit, as has been the case for the past forty years. The Department of Commerce on Tuesday reversed the ban on light...

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