April 28, 2016 – The Carroll News
U.S. exports oil to Europe after forty-year ban
by Nicole Spindler
The ink is barely dry on legislation to lift a forty-year old ban on exporting U.S. crude oil and American energy companies are already racing to ship it overseas.
U.S. oil sales to foreign buyers have been quick to start after President Obama signed a bill that abolished the crude export ban less than a month ago…
Read the full story here: http://www.jcunews.com/2016/04/28/u-s-exports-oil-to-europe-after-forty-year-ban/
…During the drilling boom, infrastructure companies reworked the country’s pipeline network so that American crude oil could move from inland shale fields in west Texas and North Dakota to the coasts where most refineries are located.
Corpus Christi has plans for the next two months to boost their oil-loading capacity in Texas by more than 40 percent to 575,000 barrels a day, Bloomberg reported.
Corpus Christi is also home to other energy companies that want to export. At its peak in August 2014, the port shipped out more than 750,000 barrels a day, mostly to U.S. or Canadian refineries, according to Housley Carr, an analyst with RBN Energy LLC in Houston.
