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Energy Secretary Voices Concern Over Dated Oil Export Restrictions

2013-12-13 23:39:00| Climate Ark Climate Change & Global Warming Newsfeed

New York Times: Signaling a possible break with 40 years of energy policy, Energy Secretary Ernest Moniz has suggested that it may be time for the Obama administration to reconsider the nations ban on exporting domestically produced crude oil. Congress made most oil exports without a license illegal in the 1970s to conserve supplies at a time when OPEC oil embargoes produced long lines at gas stations and threatened the American economy. But over the last five years a frenzy of oil drilling in shale rock formations...

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