24 Jun 2014 More
Lifting the Ban on Oil Exports Would Put the USA Back on Topposted by Brown Books @ 10:45 0 Comments
So what's stopping the US from bring the biggest exporter of crude oil in the world anyway? Oh nothing, just a little law from way back in 1975.
The Energy Policy and Conservation Act, signed into law back in 1975, states that no crude oil extracted here in the United States can be exported outside of North America, that it must be refined right here in the USA. At the time, since the US was importing such a large percentage of its oil, it posed no threat.
Read the whole story at BrownPetro.com