It’s unlikely that anyone can stop the flow of oil—one of the world’s most durable and sought-after resources. Nevertheless, since 1975, U.S. crude oil exports (with a few exceptions) have technically been banned. The president has executive authority to reverse the ban, but Congress and interest groups have begun to weigh in as U.S. oil production is projected to ramp up to 9.6 million barrels a day (bpd) in 2016—a peak not seen since 1970.
Should the forty-year-old decision to ban U.S. crude oil exports be reversed? The right answer is murkier than those in favor or against suggest. In reality, it depends on what the new rules are for the array of new oils surfacing around the globe. Given the contentious politics surrounding this decision, a healthy debate is necessary to avoid falling into traps set by numerous unanswered questions.
See full Article: http://carnegieendowment.org/2014/03/20/complexities-of-u.s.-oil-exports/h4u0
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