Congress may lift oil export ban in Sept

[dan_s]

http://finance.yahoo.com/news/congress- ... 01894.html

[bellwj]

Not sure how this will affect the E&P companies-other than to narrow the Brent-WTI spread. It's obviously a good thing for the 'sweet crude' refineries elsewhere.

[dan_s]

It should push WTI up to or even over Brent.

[dan_s]

The topic of lifting the crude oil ban has been hotly debated, both by the Senate and the U.S. House of Representatives, as opponents of the ban tout the benefits of exporting crude oil abroad, while others remain uncertain that allowing U.S. crude into the world market is really in the best interest the United States.

House legislation (H.R. 702) would end the 40-year ban on the export of domestic crude oil. The bill will receive a floor vote this fall, Rep. Joe Barton (R-Texas), the bill’s sponsor, told Bloomberg BNA Aug. 6.

Read: http://www.oilandgas360.com/lift-the-ex ... 2-26401157