Subscribe free to our newsletters via your
. Space Travel News .




OIL AND GAS
Mexican oil swaps sparks calls for full U.S. exports
by Daniel J. Graeber
Washington (UPI) Aug 17, 2015


A decision to swap crude oil with Mexico is a much needed step toward a full easing of the ban on domestic oil exports, U.S. production groups said.

The U.S. Commerce Department last week granted a request from Mexican energy company Petroleos Mexicanos, known also as Pemex, to swap as much as 100,000 barrels of U.S. crude oil per day for refining into the nation. The deal requires Mexico to refine the crude oil at home and forbids re-export to other nations.

Swaps are permissible under current legislation. Barrel Russell, president of the Independent Petroleum Association of America, said the decision is long overdue step toward a full repeal of a U.S. crude oil export ban enacted in the 1970s.

"Not only is lifting export restrictions on America's energy surpluses consistent with President Obama's own broad free trade policies, it also spurs additional investment and economic growth, creates and protects American jobs, and provides meaningful benefits to American consumers and our national energy security."

Sen. Heidi Heitkamp, D-N.D., and Senate Energy Committee Chairperson Lisa Murkowski called on the Commerce Department to approve the Pemex request in February. Both leaders have been vocal supporters of erasing the full ban on crude oil exports, arguing it would increased U.S. leverage overseas will stimulating the economy at home.

For Heitkamp, lifting the full ban would create stimulus at a time with the energy sector is hurting because of lower crude oil prices.

"Oil is the only commodity in North Dakota that faces these sorts of export restrictions, and it's past time for that to change," she said in a statement.

Critics of full exports say foreign refineries aren't designed to process the lighter forms of crude oil found in U.S. shale basins, which are behind the increase in production that's lead to calls for repeal.

Last year, the U.S. Bureau of Industry and Security, a division of the Commerce Department, authorized two U.S. companies, Pioneer Natural Resources and Enterprise Products Partners, to ship an ultra-light form of oil called condensate from the U.S. market.

Legislation enacted in response to the 1970s oil embargo by Arab members of the Organization of Petroleum Exporting Countries bans the export of unprocessed crude oil, but products like gasoline and other fuel products aren't restricted.

Condensate refined or processed in a certain way is not characterized as crude oil and is therefore not subject to the export ban.

"Given the mismatch between the crude oil produced in the U.S – mainly light sweet crude – and our refinery configuration – which processes more medium and heavy crudes -- this decision by the Commerce Department was seemingly a no-brainer," George Baker, executive director of the Producers for American Crude Oil Exports, said in a statement. "That said, it is a very small step towards removing the crude oil export ban and allowing the United States to fully realize its status as a global energy superpower."


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
U.S. to lift ban on oil exports to Mexico
Washington (UPI) Aug 14, 2015
The U.S. Department of Commerce on Friday told Congress it plans to approve contracts to export crude oil to Mexico, lifting a four-decade, unofficial ban on selling oil south of the border. The first such contract would allow Mexico's national oil company, Petróleos Mexicanos SA, to enter into agreements with U.S. companies to exchange oil, officials familiar with the matter told The ... read more


OIL AND GAS
Arianespace integrates EUTELSAT 8 West B and Intelsat 34 for Ariane 5 launch

EUTELSAT 8 West B and Intelsat 34 set for Ariane 5 launch

NASA rocket launches UH's scientific payload into space

NASA selects contractor to prepare launch structure for SLS

OIL AND GAS
NASA can send your name to Mars

How Much Contamination is Okay on Mars 2020 Rover?

One Decade after Launch, Mars Orbiter Still Going Strong

One Decade after Launch, Mars Orbiter Still Going Strong

OIL AND GAS
LADEE spacecraft finds neon in lunar atmosphere

Crowdfunding raises $720,000 to restore Neil Armstrong spacesuit

Japanese Company to Advertise Soft Drink on Moon

From a million miles away, NASA camera shows moon crossing face of Earth

OIL AND GAS
Scientists study nitrogen provision for Pluto's atmosphere

Flowing nitrogen ice glaciers seen on Pluto

New Horizons 'Captures' Two of Pluto's Smaller Moons

New Horizons Finds Second Mountain Range in Pluto's 'Heart'

OIL AND GAS
Solar System formation don't mean a thing without that spin

Gemini-discovered world is most like Jupiter

Methane, water enshroud nearby Jupiter-like exoplanet

Astronomers discover 'young Jupiter' exoplanet

OIL AND GAS
Countdown to Deep Space Continues with Latest RS-25 Test

US to get second shipment of Russian RD-181 rocket engines later in 2015

Ariane 6 and Vega C begin development

Mechanisms are Critical to Space Vehicle Flight Success

OIL AND GAS
China's space exploration potential has US chasing its own tail

China to deploy space-air-ground sensors for environment protection

Chinese earth station is for exclusively scientific and civilian purposes

Cooperation in satellite technology put Belgium, China to forefront

OIL AND GAS
Rosetta hits 'milestone' in comet's run past Sun

Rosetta hits 'milestone' in comet's run past Sun

Comet's firework display ahead of perihelion

Philae silver lining: robot lab shielded from sun




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.