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Energy Secretary wants review of limits on oil exports

  • Energy Secretary Ernest Moniz has indicated that he's in favor of revisiting the U.S.'s severe restrictions on crude oil exports, which stretch back to the OPEC oil embargo in the 1970s.
  • Moniz said his department would carry out a technical analysis of the issue.
  • The debate about easing the limits comes as U.S. production surges because of the shale boom.
  • Oil companies are naturally in favor, and argue that it would cause world oil prices to fall and bring relief to American consumers; opponents of relaxing the restrictions argue that it will lead to higher gasoline prices.
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Comments (3)
  • How's the "let's nationalize the oil industry" left going to take this?
    15 Dec 2013, 11:33 AM Reply Like
  • The nutty "drill baby drillers" said we'd get to use all the oil domestically and it would reduce prices. Now the same nutjobs want to EXPORT the oil for other countries to use? Now thar's some logik...
    16 Dec 2013, 10:35 AM Reply Like
  • I say that the US Government has its hand in all arenas of business, regulating, ruining, remunerating, and ruing. I say that if our government MUST MEDDLE in business, then get with the program and do it right, make a profit and pay down the debt with its profits. If some country needs aid, then fine,help them. AT A COST! When that country [like Japan after the war] was set right, and the entire Japanese population benefited from it, why should we not get some remuneration for our kind acts. I mean we could have made Japan a state or territory and bled it to its bones. I say, get with the program and lets make some money. The taxpayers could use help you know.
    Yeah, like that's gonna happen. If the government makes a profit in anything, Congress votes themselves a raise and more bennies.Send helped countries a bill to pay back the kindness of the taxpayers of America. There is an answer to every problem.
    Capt. Brian
    The Lost Navigator
    15 Dec 2013, 01:16 PM Reply Like
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