Lobby says will push Congress, president on crude exports
WASHINGTON — The U.S. oil industry’s powerful lobbying arm said Friday it will push Congress and the Obama administration to consider lifting a ban on crude oil exports in the new year as domestic production is due to hit a record in 2016.
U.S. crude oil exports are heavily restricted under a 40-year-old policy that is no longer needed since the country has transformed itself into a “global energy superpower,” the American Petroleum Institute (API) said in a statement.
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