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Us Crude Oil Export Policy
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Author :United States. Congress. Senate. Committee on Energy and Natural Resources Publisher : ISBN 13 : Total Pages :152 pages Book Rating :4.F/5 ( download)
Book Synopsis U.S. Crude Oil Export Policy by : United States. Congress. Senate. Committee on Energy and Natural Resources
Download or read book U.S. Crude Oil Export Policy written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2015 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis U.s. Crude Oil Export Policy by : Congressional Research Service
Download or read book U.s. Crude Oil Export Policy written by Congressional Research Service and published by CreateSpace. This book was released on 2014-12-31 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: During an era of oil price controls and following the 1973 Organization of Arab Petroleum Exporting Countries oil embargo, Congress passed the Energy Policy and Conservation Act of 1975 (EPCA), which directs the President “to promulgate a rule prohibiting the export of crude oil” produced in the United States. Crude oil export restrictions are codified in the Export Administration Regulations administered by the Bureau of Industry and Security (BIS)—a Commerce Department agency. Generally, U.S. crude oil exports are prohibited, although there are a number of exemptions and circumstances under which crude oil exports are allowed. The President has authority to allow certain crude oil exports if an exemption is determined to be in the national interest. In 2009, a decades-long U.S. oil production decline was reversed due to the application of advanced drilling and extraction technologies to produce tight oil, generally light/sweet crude primarily located in Texas and North Dakota. Limited demand for tight oil and condensate being produced in the Texas/Gulf Coast region may result because certain refiners in that region are currently configured to process heavier crudes. As a result, oil producers and industry analysts are projecting an oversupply of light oil, which could lead to price discounts and lower production should export restrictions remain. However, the industry is dynamic, and refiners can modify operating configurations and add equipment in order to accommodate more light crude volumes. Price discounts may be needed to motivate such changes. The effect on domestic gasoline prices is a major consideration, among several, associated with allowing crude oil exports. Commercial studies and federal government analysis suggests that gasoline prices are correlated to international crude oil prices—since gasoline and other petroleum products can be exported without restriction—and U.S. gasoline prices could possibly decrease if crude oil exports were allowed. However, the projected decreases—assuming ~$100 per barrel crude oil prices—are relatively small and range from $0.02 to $0.12 per gallon. Congress may choose to consider crude oil export policy options that could range from maintaining existing restrictions to eliminating the prohibition on crude oil exports. During the 113th Congress, four bills were introduced that would have eliminated crude oil export restrictions: H.R. 4286, H.R. 4349, S. 2170, and H.R. 5814. Some Members of Congress have expressed the desire to maintain crude oil restrictions. However, maintaining restrictions might not prevent more crude-oil-like material from being exported, because varying interpretations of existing regulations may allow for more exports. The crude oil definition in the export regulations is open to interpretation and has many undefined terms that the industry may explore with the objective of determining the minimum amount of crude oil processing necessary that would result in an exportable product. It is not clear how broadly or narrowly BIS might interpret existing laws and regulations. Finally, Congress may choose to explore other options between eliminating and maintaining restrictions. Examples may include allowing exports of lease condensate—an ultralight hydrocarbon that is typically produced with natural gas—allowing unrestricted exports to Mexico since exports to Canada are not restricted, allowing a certain type of crude (i.e., light/sweet) from a certain location (i.e., Texas) to be exported—much like the California heavy crude oil export exemption—or allowing crude oil exports for a limited time period since U.S. oil production growth is uncertain and may, according to the Energy Information Administration, peak in 2020. The President has the authority to make national interest determinations that would allow for more crude oil exports.
Book Synopsis U.S. Crude Oil Export Policy by : Committee on Energy and Natural Resource
Download or read book U.S. Crude Oil Export Policy written by Committee on Energy and Natural Resource and published by CreateSpace. This book was released on 2015-06-30 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unconventional energy revolution in the United States over the last several years has brought about a new era of energy abundance in the United States. Crude oil production has increased significantly, from 5 million barrels per day in 2008 to over 9 million barrels per day today. In 2013, the United States surpassed Saudi Arabia to become the largest producer of liquid fuels, including oil and refined petroleum products, in the world. The United States is also on the cusp of exporting Liquefied Natural Gas. It is not, however, a major exporter of crude oil. This is not for lack of potential and available supplies. Rather, it is due to laws that restrict the export of this commodity and that were put in place in response to the OPEC oil embargo of the 1970s. Crude oil export restrictions create distortions in the domestic oil market and pose a risk to U.S. oil production growth. They stifle economic growth and also hamper the ability of U.S. foreign policy and national security leaders to seize strategic benefits presented by the energy revolution.
Book Synopsis U.S. Crude Oil Export Policy by : Congressional Research Service
Download or read book U.S. Crude Oil Export Policy written by Congressional Research Service and published by CreateSpace. This book was released on 2014-07-14 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: During an era of oil price controls and following the 1973 Organization of Arab Petroleum Exporting Countries oil embargo, Congress passed the Energy Policy and Conservation Act of 1975 (EPCA), which directs the President “to promulgate a rule prohibiting the export of crude oil” produced in the United States. Crude oil export restrictions are codified in the Export Administration Regulations administered by the Bureau of Industry and Security (BIS)—a Commerce Department agency. The President has some powers to allow certain crude oil exports if an exemption is determined to be in the national interest.
Author :United States. Congress. House. Committee on Foreign Affairs. Subcommittee on International Economic Policy and Trade Publisher : ISBN 13 : Total Pages :196 pages Book Rating :4.F/5 ( download)
Book Synopsis Oil Export Issues by : United States. Congress. House. Committee on Foreign Affairs. Subcommittee on International Economic Policy and Trade
Download or read book Oil Export Issues written by United States. Congress. House. Committee on Foreign Affairs. Subcommittee on International Economic Policy and Trade and published by . This book was released on 1990 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress Publisher :Createspace Independent Publishing Platform ISBN 13 :9781976461477 Total Pages :150 pages Book Rating :4.4/5 (614 download)
Book Synopsis U.s. Crude Oil Export Policy by : United States. Congress
Download or read book U.s. Crude Oil Export Policy written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2017-09-21 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. crude oil export policy : hearing before the Committee on Energy and Natural Resources, United States Senate, One Hundred Fourteenth Congress, first session, March 19, 2014.
Book Synopsis U.S. Crude Oil Export Policy by : Phillip Brown
Download or read book U.S. Crude Oil Export Policy written by Phillip Brown and published by . This book was released on 2014 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Foreign Affairs. Subcommittee on International Economic Policy and Trade Publisher : ISBN 13 : Total Pages :176 pages Book Rating :4.0/5 ( download)
Book Synopsis Update on the Status of Alaskan Oil Exports by : United States. Congress. House. Committee on Foreign Affairs. Subcommittee on International Economic Policy and Trade
Download or read book Update on the Status of Alaskan Oil Exports written by United States. Congress. House. Committee on Foreign Affairs. Subcommittee on International Economic Policy and Trade and published by . This book was released on 1987 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis U.S. Crude Oil Exports by : Michael Pope
Download or read book U.S. Crude Oil Exports written by Michael Pope and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a result of advanced oil drilling and extraction technologies (primarily horizontal drilling and hydraulic fracturing), crude oil production in the United States is growing and, according to Energy Information Administration (EIA) reference case projections, may reach 9.6 million barrels per day by 2019. Production of light tight oil (LTO) is, and is expected to be, the primary contributor to U.S. crude oil production growth in the near to medium term. This book provides background and context about the crude oil legal and regulatory framework, discusses motivations that underlie the desire to export U.S. crude oil, and presents analysis of issues that Congress may choose to consider during debate about U.S. crude oil export policy.
Book Synopsis U.s Crude Oil Export Policy by : Chukwuemeka Udemezue
Download or read book U.s Crude Oil Export Policy written by Chukwuemeka Udemezue and published by CreateSpace. This book was released on 2015-10-15 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S Crude Oil Exports are prohibited, although there are a number of exemptions of circumstances under which crude oil exports are allowed.
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on International Finance and Monetary Policy Publisher : ISBN 13 : Total Pages :48 pages Book Rating :4.F/5 ( download)
Book Synopsis The Export of Alaskan Crude Oil by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on International Finance and Monetary Policy
Download or read book The Export of Alaskan Crude Oil written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on International Finance and Monetary Policy and published by . This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The United States Refining Policy in a Changing World Oil Environment by : United States. General Accounting Office
Download or read book The United States Refining Policy in a Changing World Oil Environment written by United States. General Accounting Office and published by . This book was released on 1979 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis U.s. Oil Imports and Exports by : Neelesh Nerurkar
Download or read book U.s. Oil Imports and Exports written by Neelesh Nerurkar and published by CreateSpace. This book was released on 2013-07 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last six years, net oil imports have fallen by 33% to average 8.4 million barrels per day (Mb/d) in 2011. This represents 45% of domestic consumption, down from 60% in 2005. Oil is a critical resource for the U.S. economy, but despite policy makers' longstanding concern, U.S. oil imports had generally increased for decades until peaking in 2005. Since then, the economic downturn and higher oil prices were a drag on oil consumption, while price-driven private investment and policy helped increase domestic supply of oil and oil alternatives. Net imports are gross imports minus exports. The decline in net imports has manifested itself as a decrease in gross imports and an increase in exports of petroleum products. Gross U.S. imports of crude oil and petroleum products averaged 11.4 Mb/d in 2011, down 17% since 2005. More than a third of gross imports came from Canada and Mexico in 2011. About 40% came from members of the Organization for the Petroleum Exporting Countries (OPEC), mostly from OPEC members outside the Persian Gulf. Regionally, the largest share of U.S. imports come into the Gulf Coast region, which holds about half of U.S. refining capacity and sends petroleum products to other parts of the country and abroad. All regions of the country import more crude than refined products except for the East Coast, where petroleum products imports may rise further due to refinery closures. U.S. oil exports, made up almost entirely of petroleum products, averaged 2.9 Mb/d in 2011. This is up from export of 1.2 Mb/d in 2005, led by growing export of distillates (diesel and related fuels) and gasoline. More than 60% of U.S. exports went to countries in the Western Hemisphere, particularly to countries such as Mexico and Canada from which the U.S. imports crude oil. Exports occur largely as a result of commercial decisions by oil market participants which reflect current oil market conditions as well as past investment in refining. As a result, net oil imports fell from a peak of 12.5 Mb/d in 2005 to 8.4 Mb/d in 2011, their lowest level since 1995. A consensus is generally emerging among energy analysts that U.S. oil imports may be past their peak, reached in 2005. Imports as a share of consumption are expected to fall further, to less than 40% after 2020 driven by tighter fuel economy standards and increased domestic supply. Despite the decline in net import volumes, the cost of net imports has increased due to rising oil prices. The aggregate national cost of oil imports is a function of the volume of oil imported and the price of that oil. The United States spent about $327 billion on net oil imports in 2011. Being a net importer of a particular good is not necessarily negative for an economy, but greater national oil import dependence can amplify the negative economic impacts of oil price increases. Oil import and export developments pose a host of policy issues. Concerns about import dependence continue to generate interest in policy options to directly discourage imports or to reduce the need for imports by increasing domestic supply and decreasing demand. Rising exports at a time of rising prices has led to calls for policies to restrict such trade. The debate around the Keystone XL pipeline involves concerns about imports, exports, and the environment. The rising cost for fuels has led to calls for release of the Strategic Petroleum Reserve, meant to provide a short term policy option in case of supply disruptions. Policy options may entail various economic, fiscal, and environmental trade-offs.
Book Synopsis World Oil Developments and U.S. Oil Import Policies by : United States Tariff Commission
Download or read book World Oil Developments and U.S. Oil Import Policies written by United States Tariff Commission and published by . This book was released on 1973 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Foreign Affairs. Subcommittee on Terrorism, Nonproliferation, and Trade Publisher : ISBN 13 : Total Pages :72 pages Book Rating :4.:/5 (319 download)
Book Synopsis The Crude Truth by : United States. Congress. House. Committee on Foreign Affairs. Subcommittee on Terrorism, Nonproliferation, and Trade
Download or read book The Crude Truth written by United States. Congress. House. Committee on Foreign Affairs. Subcommittee on Terrorism, Nonproliferation, and Trade and published by . This book was released on 2014 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Foreign Relations. Subcommittee on East Asian and Pacific Affairs Publisher : ISBN 13 : Total Pages :550 pages Book Rating :4.0/5 (17 download)
Book Synopsis Export of Alaskan Crude Oil by : United States. Congress. Senate. Committee on Foreign Relations. Subcommittee on East Asian and Pacific Affairs
Download or read book Export of Alaskan Crude Oil written by United States. Congress. Senate. Committee on Foreign Relations. Subcommittee on East Asian and Pacific Affairs and published by . This book was released on 1983 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Oil and the World Order by : Svante Karlsson
Download or read book Oil and the World Order written by Svante Karlsson and published by Berg Publishers. This book was released on 1986 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:
