The happy paradox of U.S. energy markets is that the domestic fossil-fuels boom has been overwhelming destructive federal government policy. The latest example of emerging common sense is Energy Secretary Ernest Moniz's suggestion last week that the U.S. may need to reconsider its 40-year ban on most oil exports.

"Those restrictions on exports were born, as was the Department of Energy and the Strategic Petroleum Reserve, on oil disruptions," Mr. Moniz told reporters at the Platts Global Energy Outlook Forum in New York. "There are lots of issues in the energy space that deserve some new analysis and examination in the context of what is now an energy world that is no longer like the 1970s."

Thank you, Mr. Secretary. The oil export ban was one result of the oil-price political panic of the 1970s, which created the worst energy policy in U.S. history until the Pelosi Congress arrived in 2007 to repeat some of the same mistakes. Mr. Moniz is right to raise the issue, and we hope his comments will spur Congress into action.

The U.S. oil boom driven by private investment and ingenuity has transformed North American oil markets, and the International Energy Agency estimates America will surpass Saudi Arabia and Russia as the world's largest oil producer by 2015. Yet with a few exceptions, U.S. producers are barred from exporting crude oil without a license from the Commerce Department.

Commerce has been granting more licenses, albeit fitfully, and the U.S. has been exporting a little less than 100,000 barrels a day on average, mainly to Canada. But this is far less than oil producers would be able to export if they didn't have to submit to such ad hoc bureaucratic review.

Oil exports would help with the U.S. trade balance, but far more important is that they would allow energy markets to operate more efficiently. Surging domestic production has led to a mismatch between the oil produced in U.S. fields and the types needed by U.S. refiners. The booming new U.S. fields often produce lighter crude that doesn't match the heavier, lower-quality crude from abroad that U.S. refiners typically handle. Without being able to export oil, U.S. drillers have a more restricted market for their high-quality crude and less incentive to expand production.

Opponents of exporting oil claim that lifting the ban would raise U.S. gasoline prices, but that misunderstands that oil is a global market. U.S. pump prices would continue to rise or fall with world oil prices regardless of exports. But lifting the ban would lead t


01/24/2014 2:07am

Design-Fabrication & Consultant Engineers takes immense pride in revealing that it has gained a wide recognition as a quality supplier of straightening machine, that too in a very short span of time. There are various types of straightening machine including round bar straightening, tube straightening, angle straightening, channel straightening, special section straightening, etc. We do supply most of the high performance straightening machines which is mainly used for straightening the bars, wires, etc.

Though, the machine supplied by us is available in diverse specifications, but we also take into consideration the customized requirements of our esteemed clients in order to deliver them the value of money. You can expect high speed from the machines manufactured by us. Robust construction is yet another strong feature that will certainly compel you to place your order with us. When you are getting superior quality machine, offering low maintenance cost then why to lag behind and think much?

Design-Fabrication & Consultant Engineers has produced highly satisfied customers all over the world and you could be one among them by relying on us. So, what are you waiting for? Just let us know your requirements and we assure you that we will cater to you in a best possible manner.


It is an enormously inspiring post.

04/12/2014 2:53am

Thanks for the blog post.

09/03/2014 2:10am

I am very happy to read this Article.

02/13/2015 12:56am

yes i agree with your content that as recently half a decade ago, oil companies had no interest in exporting U.S. crude oil, but that has changed. Oil production has grown more in the United state .

08/24/2015 7:33am

One thing that each and every person should know immediately that at present, all the pleasures and luxuries that we are enjoying in our lives are due to education.

04/11/2016 3:24am

Nice post about American oil. Oil is very important part of economy. Thank you for sharing. Please keep updating!!

05/25/2016 11:48pm

Whenever something happens that seems to be negative an individual with the wrong mindset will look for excuses why a particular project did not go according to plan.

06/11/2016 12:08am

Very knowledgeable post. I really like it. Thank you for sharing. Please keep updating!!!


Leave a Reply

SPYDR Oilfield Service LLC. Copyright 2013 - 513 East Broadway, Williston, North Dakota 58801 701-774-2340 SPYDR OILFIELD SERVICE -Roustabout -Oil Field Contstruction- Oilfield Maintenance