Lifting ban on crude exports has benefits

The House Energy and Power Subcommittee met last week to consider whether the time has come at last to lift restrictions on U.S. crude oil exports, a statutory relic of the Arab oil embargo of 40 years ago. With the United States reestablishing itself as the world's foremost oil producer - surpassing Saudi Arabia and Russia - legislation from Rep. Joe Barton , R-Texas, proposes to repeal a section of the 1975 Energy Policy and Conservation Act that makes it unlawful for U.S. oil producers to sell their crude abroad.

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