U S Crude Oil Exports
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U S Crude Oil Exports
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Author : Michael Pope
language : en
Publisher:
Release Date : 2014
U S Crude Oil Exports written by Michael Pope and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Export controls categories.
As a result of advanced oil drilling and extraction technologies (primarily horizontal drilling and hydraulic fracturing), crude oil production in the United States is growing and, according to Energy Information Administration (EIA) reference case projections, may reach 9.6 million barrels per day by 2019. Production of light tight oil (LTO) is, and is expected to be, the primary contributor to U.S. crude oil production growth in the near to medium term. This book provides background and context about the crude oil legal and regulatory framework, discusses motivations that underlie the desire to export U.S. crude oil, and presents analysis of issues that Congress may choose to consider during debate about U.S. crude oil export policy.
U S Crude Oil Export Policy
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Author : Congressional Research Service
language : en
Publisher: CreateSpace
Release Date : 2014-12-31
U S Crude Oil Export Policy written by Congressional Research Service and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-31 with Political Science categories.
During an era of oil price controls and following the 1973 Organization of Arab Petroleum Exporting Countries oil embargo, Congress passed the Energy Policy and Conservation Act of 1975 (EPCA), which directs the President “to promulgate a rule prohibiting the export of crude oil” produced in the United States. Crude oil export restrictions are codified in the Export Administration Regulations administered by the Bureau of Industry and Security (BIS)—a Commerce Department agency. Generally, U.S. crude oil exports are prohibited, although there are a number of exemptions and circumstances under which crude oil exports are allowed. The President has authority to allow certain crude oil exports if an exemption is determined to be in the national interest. In 2009, a decades-long U.S. oil production decline was reversed due to the application of advanced drilling and extraction technologies to produce tight oil, generally light/sweet crude primarily located in Texas and North Dakota. Limited demand for tight oil and condensate being produced in the Texas/Gulf Coast region may result because certain refiners in that region are currently configured to process heavier crudes. As a result, oil producers and industry analysts are projecting an oversupply of light oil, which could lead to price discounts and lower production should export restrictions remain. However, the industry is dynamic, and refiners can modify operating configurations and add equipment in order to accommodate more light crude volumes. Price discounts may be needed to motivate such changes. The effect on domestic gasoline prices is a major consideration, among several, associated with allowing crude oil exports. Commercial studies and federal government analysis suggests that gasoline prices are correlated to international crude oil prices—since gasoline and other petroleum products can be exported without restriction—and U.S. gasoline prices could possibly decrease if crude oil exports were allowed. However, the projected decreases—assuming ~$100 per barrel crude oil prices—are relatively small and range from $0.02 to $0.12 per gallon. Congress may choose to consider crude oil export policy options that could range from maintaining existing restrictions to eliminating the prohibition on crude oil exports. During the 113th Congress, four bills were introduced that would have eliminated crude oil export restrictions: H.R. 4286, H.R. 4349, S. 2170, and H.R. 5814. Some Members of Congress have expressed the desire to maintain crude oil restrictions. However, maintaining restrictions might not prevent more crude-oil-like material from being exported, because varying interpretations of existing regulations may allow for more exports. The crude oil definition in the export regulations is open to interpretation and has many undefined terms that the industry may explore with the objective of determining the minimum amount of crude oil processing necessary that would result in an exportable product. It is not clear how broadly or narrowly BIS might interpret existing laws and regulations. Finally, Congress may choose to explore other options between eliminating and maintaining restrictions. Examples may include allowing exports of lease condensate—an ultralight hydrocarbon that is typically produced with natural gas—allowing unrestricted exports to Mexico since exports to Canada are not restricted, allowing a certain type of crude (i.e., light/sweet) from a certain location (i.e., Texas) to be exported—much like the California heavy crude oil export exemption—or allowing crude oil exports for a limited time period since U.S. oil production growth is uncertain and may, according to the Energy Information Administration, peak in 2020. The President has the authority to make national interest determinations that would allow for more crude oil exports.
U S Crude Oil Exports
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Author : Michael Pope
language : en
Publisher: Gazelle Book Services, Limited
Release Date : 2014-01-01
U S Crude Oil Exports written by Michael Pope and has been published by Gazelle Book Services, Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-01 with BUSINESS & ECONOMICS categories.
As a result of advanced oil drilling and extraction technologies (primarily horizontal drilling and hydraulic fracturing), crude oil production in the United States is growing and, according to Energy Information Administration (EIA) reference case projec
Crude Oil Exports
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Author : United States. Congress. Senate. Committee on Energy and Natural Resources
language : en
Publisher:
Release Date : 2014
Crude Oil Exports written by United States. Congress. Senate. Committee on Energy and Natural Resources and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Export controls categories.
Changing Crude Oil Markets
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Author : U.s. Government Accountability Office
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2017-07-27
Changing Crude Oil Markets written by U.s. Government Accountability Office and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-27 with categories.
" Almost 4 decades ago, in response to the Arab oil embargo and recession it triggered, Congress passed legislation restricting crude oil exports and establishing the SPR to release oil to the market during supply disruptions and protect the U.S. economy from damage. After decades of generally falling U.S. crude oil production, technological advances have contributed to increasing U.S. production. Meanwhile, net crude oil imports-imports minus exports-have declined from a peak of about 60 percent of consumption in 2005 to 30 percent in the first 5 months of 2014. According to Energy Information Administration forecasts, net imports are expected to remain well below 2005 levels into the future. GAO was asked to provide information on the implications of removing crude oil export restrictions. This report examines what is known about (1) price implications of removing crude oil export restrictions; (2) other key potential implications; and (3) implications of recent changes in market conditions on the SPR. GAO reviewed four studies on crude oil exports, including two sponsored by industry, and summarized the literature and views of a nonprobability sample of stakeholders including academic, industry, and other experts. "
Changing Crude Oil Markets
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Author :
language : en
Publisher:
Release Date : 2014
Changing Crude Oil Markets written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Energy policy categories.
Almost 4 decades ago, in response to the Arab oil embargo and recession it triggered, Congress passed legislation restricting crude oil exports and establishing the SPR to release oil to the market during supply disruptions and protect the U.S. economy from damage. After decades of generally falling U.S. crude oil production, technological advances have contributed to increasing U.S. production. Meanwhile, net crude oil imports (imports minus exports) have declined from a peak of about 60 percent of consumption in 2005 to 30 percent in the first 5 months of 2014. According to Energy Information Administration forecasts, net imports are expected to remain well below 2005 levels into the future. GAO was asked to provide information on the implications of removing crude oil export restrictions. This report examines what is known about (1) price implications of removing crude oil export restrictions; (2) other key potential implications; and (3) implications of recent changes in market conditions on the SPR. GAO reviewed four studies on crude oil exports, including two sponsored by industry, and summarized the literature and views of a nonprobability sample of stakeholders including academic, industry, and other experts. In view of changing market conditions and in tandem with activities to assess other aspects of the SPR, GAO recommends that the Secretary of Energy reexamine the size of the SPR.
U S Crude Oil Export Policy
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Author : Congressional Research Service
language : en
Publisher: CreateSpace
Release Date : 2014-07-14
U S Crude Oil Export Policy written by Congressional Research Service and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-14 with Technology & Engineering categories.
During an era of oil price controls and following the 1973 Organization of Arab Petroleum Exporting Countries oil embargo, Congress passed the Energy Policy and Conservation Act of 1975 (EPCA), which directs the President “to promulgate a rule prohibiting the export of crude oil” produced in the United States. Crude oil export restrictions are codified in the Export Administration Regulations administered by the Bureau of Industry and Security (BIS)—a Commerce Department agency. The President has some powers to allow certain crude oil exports if an exemption is determined to be in the national interest.
U S Crude Oil Export Policy
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Author : United States. Congress. Senate. Committee on Energy and Natural Resources
language : en
Publisher:
Release Date : 2015
U S Crude Oil Export Policy written by United States. Congress. Senate. Committee on Energy and Natural Resources and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Export controls categories.
Oil Export Issues
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Author : United States. Congress. House. Committee on Foreign Affairs. Subcommittee on International Economic Policy and Trade
language : en
Publisher:
Release Date : 1990
Oil Export Issues written by United States. Congress. House. Committee on Foreign Affairs. Subcommittee on International Economic Policy and Trade and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Energy policy categories.
Crude Oil Exports
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Author : United States. Congress. House. Committee on Resources
language : en
Publisher:
Release Date : 1995
Crude Oil Exports written by United States. Congress. House. Committee on Resources and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.
Distributed to some depository libraries in microfiche.