U.S. crude exports could counter Russia in 90 days, Hess CEO says

|About: Hess Corporation (HES)|By:, SA News Editor

The U.S. could give Europe and Ukraine relief from energy dependence on Russia within months if it overturned the 40-year ban on most U.S. crude oil exports, Hess (HES) CEO John Hess believes.

The CEO plays down the notion that reversing the ban could raise gasoline prices, saying prices are set on global futures markets and that the U.S. already exports millions of barrels per day of oil products.

Cheniere Energy (LNG) CEO Charif Souki disagrees, downplaying claims U.S. energy can save Europe from its dependence on Russian gas.