• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 41 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 11 hours Changing Gazprom ADRs to Russian shares
  • 13 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 5 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 6 days "How China Could Send LNG Prices Into The Stratosphere" by Irina Slav
  • 6 days The Federal Reserve and Money...Aspects which are not widely known
Editorial Dept

Editorial Dept

More Info

U.S. Will Export Oil – Who Wins and Who Loses?

The surge in U.S. oil production in 2010 has left a glut of oil trapped within the United States. To be sure, the U.S. is by far the largest consumer of oil in the world, so it’s not like all that extra oil sloshing around can’t find a home. But, due to a mismatch between the light, sweet crude coming out of places like the Bakken and the Eagle Ford, and the preponderance of refineries on the Gulf Coast equipped to handle heavier, sourer types of oil, there are local surpluses in supply. As a result, prices are somewhat depressed – for the last few years there has been a large spread between the Brent and WTI benchmarks, at times as wide as $10 per barrel. This has drillers looking overseas for markets.

Yet, U.S. law largely prohibits oil exports. Producers have already had a warm-up debate over energy exports – the glut of shale gas has drillers pushing lawmakers and regulators to approve export terminals for LNG, and the Obama administration has obliged, albeit at a slower pace than the industry wants. Last year, the murmurings of a similar debate – this time over oil – began to emerge. That debate kicked into high gear after the annexation of Crimea by Russia. Producers had shifted back and forth between a litany of arguments to support exports – that LNG and oil exports will grow the economy, create jobs, provide geopolitical benefits, lead to energy independence – which at times fell flat. But, with the Ukraine crisis,…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News