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Lawmaker: US Oil Export Ban Won’t Be Lifted This Year

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July 17, 2014

Bloomberg reported on July 16 that a four-decade-old ban on crude exports from the U.S. will survive another year, the chairman of the U.S. House’s Energy and Commerce Committee said.

Policymakers need time to decide whether to lift the 1975 prohibition on exporting most crude, “and that won’t happen this year,” Fred Upton, R-Mich., said July 15 at an energy conference in Washington. The U.S. allows shipments of refined products including gasoline and diesel.

Lifting the prohibition on exports would help alleviate a glut of oil building up along the ...

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