‘Serious Conversations’ Underway on U.S. Oil Exports

Posted July 8, 2014 at 5:01am

Commerce Secretary Penny Pritzker said that her agency is grappling with its approach to the nation’s decades-old ban on most crude-oil exports at a time when “technology is advancing faster than the existing regulations,” National Journal reports.  

Said Prizker: “I think it’s a mistake to think there isn’t serious conversation going on within the administration about what we should do and figure out the right policy.”  

“Pritzker’s remarks arrive roughly a week after revelations that the Commerce Deparment quietly gave two companies a green light to export ultralight, minimally processed crude oil known as condensate, ruling that it’s a ‘petroleum product’ and not subject to the ban.”