US oil industry renews push to lift ban on exports

Forget the falling price, producers are playing a longer game.

WASHINGTON — Never mind dropping oil prices. US producers are pushing harder than ever for the right to sell US crude oil overseas.

It might seem counterintuitive: Oil prices are as low as they have been at any point since 2009 and the height of the Great Recession, and some predict they could drop further still.

But oil producers are playing a longer game, betting that long-term demand remains strong and new markets offer lucrative rewards for US producers.

Supporters see possible inroads with a Republican Congress as well as some signs that the Obama administration will at least consider changes to the longstanding policy.

Opponents say exporting oil now would send gas prices higher and prevent the US from achieving a goal of energy independence.

Have your say:

Your email address will not be published. Required fields are marked *