Sen. Markey Pushes Back as U.S. Oil Export Discussion Increases

Posted September 22, 2014 at 5:15am

The Boston Globe reports that “Senator Edward J. Markey is fighting an increasingly lonely, and perhaps futile, battle to prevent the overseas export of crude oil gushing from shale fields in North Dakota, Texas, and other parts of the country.”  

“For nearly 40 years, US companies have been banned from exporting American crude, a policy imposed after the Arab oil embargo of the 1970s shook the US economy to its core. But as domestic production hits record levels, the administration of President Obama is loosening the longtime restriction, recently allowing two Texas companies to ship an ultralight crude oil known as condensate to overseas markets.”  

“Those decisions, made earlier this year, are viewed as the first steps toward lifting the decades-old export ban — a policy that Markey and others view as short-sighted for a nation that until only recently relied heavily on foreign oil to meet its energy needs.”