For forty years the U-S has banned the export of most all crude oil. Matt Laslo reports a new debate is raging in Washington over whether to end the ban.
MATT LASLO: The U-S banned crude oil exports after the Arab oil embargo of 1973. It’s been in place since, which has negatively impacted global oil prices. Wyoming Republican Senator John Barrasso says he’s ready to lift the ban.
Tim Considine is a professor at University of Wyoming and director of the Center for Energy Economics and Public Policy. He’s done research on petroleum markets and written about Powder River Basin Coal. He helped organize a roundtable discussion about coal called “Powder River Basin Coal: Domestic Challenges and International Opportunities,” which took place yesterday, in Gillette…He said the industry has been facing challenges like ongoing uncertainty in regulations, yet coal exports are at record levels.