this is good to know and I am happy to read this
[B]White House Issues Veto Threat for Bill to Lift Crude Exports Ban[/B]
October 8, 2015 by Reuters
WASHINGTON – The White House issued a veto threat on Wednesday for a U.S. House of Representatives bill that would lift a four-decade-old ban on crude oil exports, saying the legislation was “not needed at this time.”
Congress should instead end “the billions of dollars a year in federal subsidies provided to oil companies” and invest in wind, solar and other renewable energy projects, the White House said in a statement about the bill, which is expected to face a vote in the full House on Friday.
Two similar bills have passed committees in the Senate, but backers are struggling to find enough Democrats for the legislation to pass the full chamber.
Oil company interests and other backers of repealing the ban say the domestic drilling boom will eventually choke on a glut of crude if it is not lifted.
George Baker, the head of Producers for American Crude Oil Exports, or PACE, said that lifting the ban “will help level the playing field and allow America to compete on the international stage,” and that it would create jobs and aid trading partners abroad.
Opponents of lifting the ban say increased drilling would harm the environment and that it would hurt jobs in refining and ship building.
You really do hate the GoM/Oilfield don’t you?
shakes head I may not like unions, but by no means do I wish ill of their members and their families well being. Lifting the ban would bring parity between domestic and foreign oil prices and put us on an even footing with other oil producers. Pretty sure this would be good for the oil patch.
We consume more oil that we produce. We are producing about two thirds of our daily needs. We must import the other third. It would be crazy from a security of supply perspective to export any of our crude. Also, our oil is high quality than what we import.
Sooner or later we are going to need every drop of our oil for domestic consumption.
Obama does not do very many things that I agree with. This is one of the few.
[QUOTE=jbtam99;171109]You really do hate the GoM/Oilfield don’t you? [/QUOTE]
I am on probation now here in the forum for being overly defensive and hitting back with full broadsides when challenged so I am going to let this pass without comment…
believe anything you will…
Maybe good for the oil field but it wouldn’t be good for us moving jones act oil
The way I see it, I’m fine with us importing as much as the traders want to, but if we’re producing at all there’s no need for us to sell it.
[QUOTE=jbtam99;171109]You really do hate the GoM/Oilfield don’t you?
shakes head I may not like unions, but by no means do I wish ill of their members and their families well being. Lifting the ban would bring parity between domestic and foreign oil prices and put us on an even footing with other oil producers. Pretty sure this would be good for the oil patch.[/QUOTE]
Don’t be fooled this has nothing to do with GOM/Oilfield hate or bringing the price up. All this is for is so our oil can be shipped to South American to be refined cheaper and sent right back to us, with I’m sure a substantial mark up due to “transportation cost”. This will kill the refineries and Jones Act tanker and tug and barge industries, putting millions out of work. I’m surprise we haven’t heard a huge cry out of the refinery unions in Houston over this.
The oil companies want this to pass so they don’t have to deal with the EPA to convert their refiners over to produce American Oil as most refineries are set up to refine foreign oil. They’ve already shut down most if not all the refineries on the east cost, and the price for refined products has gone up accordingly.
Keeping our oil and oil refineries here in the States should be looked at the same way the Jones act is for the defense of our country.
I have a lot of issues with the administration but I will give up to Obama for supporting the American Mariner and now hopefully the refinery workers as well.