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Would-be U.S. oil exporters face tough politics: Kemp
2013-12-19 06:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Reuters: President Barack Obama could probably lift the prohibition on domestic oil exports on his own, but the White House has little reason to favour U.S. oil producers and it would be safer politically to involve Congress in any eventual decision. The principal effect of the export ban is to transfer revenues from domestic oil producers to U.S. refiners because it ensures producers are forced to sell their output at a discount rather than exporting at world market prices. North Dakota's Bakken crude...
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