Congress is voting on a $1.1 trillion budget deal today, which includes a provision to end the decades-old ban on exporting U.S.-produced crude oil. Lifting the crude oil export ban has long been a demand of the oil industry. Companies including BP, ExxonMobil, Chevron, Hess, ConocoPhillips, Chesapeake Energy and Marathon Oil have all lobbied for bills to lift the ban within the last few years. Environmental group Oil Change International says lifting the ban will incentivize further domestic oil production and is “a disaster for the climate.”
Bowing to Oil Industry, Congress Set to Lift Ban on U.S. Crude Exports
HeadlineDec 17, 2015