Oil Execs Lobby To Lift Crude Export Ban
Pressure is mounting for a decision in Washington that would lift the crude oil export ban. Energy executives met with Obama administration officials last week to lobby for lifting it. This past weekend, they made their case at an energy conference in Colorado.
Exporting crude oil has been banned since the 1970s. But oil executives at the Vail Global Energy Forum said the boom in US oil production, as well as higher global prices, are a sign that its time to lift the ban. Those opposed say it would increase dependence on fossil fuels but Encana president Doug Suttles says exporting would be a win for everyone.
"It’s pro-consumer, it is pro the economy, it’s pro national security and it is a bi-partisan issue," Suttles said.
Last week the North Dakota Senate approved a resolution asking Congress to lift the ban. Similar legislation is pending in Texas.