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class="wpmega-link-title">Contact</span></a></li></ul></div></div> <div class="sidebarYellow"> </div> <div class="sidebarWhite"> <div class="text"> <div id="content"> <h1>Pressure Mounts to Lift Crude Oil Export Ban</h1> <div class="wp-socializer-buttons clearfix"> <span class="wpsr-btn">  <div class="fb-like" data-href="http://www.arescotx.com/pressure-mounts-to-lift-crude-oil-export-ban/" data-share="false" data-layout="button_count" data-show-faces="0" data-action="like" data-colorscheme="light"></div>  </span> <span class="wpsr-btn">  <a href="https://web.archive.org/web/20150709191052/http://twitter.com/share" class="twitter-share-button" data-count="horizontal" data-via="ArescoLP" data-lang="en" data-url="https://web.archive.org/web/20150709191052/http://www.arescotx.com/pressure-mounts-to-lift-crude-oil-export-ban/" data-text="Pressure Mounts to Lift Crude Oil Export Ban - "></a>  </span> <span class="wpsr-btn">  <div class="g-plusone" data-size="medium" data-href="http://www.arescotx.com/pressure-mounts-to-lift-crude-oil-export-ban/"></div>  </span> <span class="wpsr-btn">  <script type="IN/Share" data-url="http://www.arescotx.com/pressure-mounts-to-lift-crude-oil-export-ban/" data-counter="right"></script>  </span> <span class="wpsr-btn">  <div style="padding-right:50px"><a href="https://web.archive.org/web/20150709191052/http://pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.arescotx.com%2Fpressure-mounts-to-lift-crude-oil-export-ban%2F&media=http%3A%2F%2Fwww.arescotx.com%2Fwp-content%2Fuploads%2Fwest-texas-sweet-light-crude.jpg" data-pin-do="buttonPin" data-pin-config="beside"><img border="0" src="//web.archive.org/web/20150709191052im_/http://assets.pinterest.com/images/pidgets/pinit_fg_en_rect_gray_20.png" alt="Pinterest" title="Pin It"/></a></div>  </span> </div><p><a href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/wp-content/uploads/west-texas-sweet-light-crude.jpg" data-rel="lightbox-0"><img class="alignleft size-medium wp-image-5972" style="border: 0px none; margin: 5px 10px;" src="https://web.archive.org/web/20150709191052im_/http://www.arescotx.com/wp-content/uploads/west-texas-sweet-light-crude-300x170.jpg" alt="West Texas Sweet Light Crude" width="300" height="170"/></a>Imagine a level of ingenuity so profound, it rapidly overwhelms existing infrastructure. Storage facilities brim. Pipelines back up. Laden trucks sit idled.</p> <p>This is the current dynamic in the miraculous U.S. energy boom. The flood of new oil supplies is choking the domestic industry’s capacity to process them. And it could roll back the boom with a wave of destructive disruptions and shakeups. But that outcome won’t be due to the collapse in oil prices. For this you can thank <a href="https://web.archive.org/web/20150709191052/http://www.washingtonpost.com/blogs/wonkblog/wp/2014/01/08/u-s-oil-exports-have-been-banned-for-40-years-is-it-time-for-that-to-change/" target="_blank">a circa-1970s policy</a> that throttles jobs and keeps petroleum exploration and production companies from realizing the full value of their output.<span id="more-5970"></span></p> <p><strong>Oil Shocks and Oil Knocks</strong></p> <p>In the wake of the 1973 Arab oil embargo, Washington delivered to us the <a href="https://web.archive.org/web/20150709191052/https://www.hsdl.org/?view&did=761106" target="_blank">Energy Policy Conservation Act of 1975.</a> It unspooled a tangled web of regulations including corporate average fuel economy standards, the establishment of the strategic petroleum reserve, and a ban on crude oil exports, save for some to Canada. The goal was to limit the nation’s reliance on imports, protect U.S. supplies, and elude volatile global petroleum markets.</p> <p><a href="https://web.archive.org/web/20150709191052/http://www.usoilinvestments.com/" target="_blank"><img class="aligncenter wp-image-5412 size-full" src="https://web.archive.org/web/20150709191052im_/http://www.arescotx.com/wp-content/uploads/why-now-is-the-time-to-invest-in-oil.png" alt="Why now is the time to invest in oil..." width="600" height="40"/></a></p> <p>The law was an issue of little importance for several decades. The U.S. has largely been a net importer of oil and export opportunities were thin. But now, in light of the fracking boom, the law is coming back to haunt the petroleum market and the domestic economy.</p> <p>Successful extraction of light sweet crude from shale deposits in North Dakota and Texas is overwhelming Gulf Coast refiners configured to handle heavy sour grades from Mexico and Venezuela. In turn it’s denying Asian refiners the light sweet crude they demand, in effect penalizing American producers who are barred from fetching top prices on global markets.</p> <p><a href="https://web.archive.org/web/20150709191052/http://www.washingtontimes.com/news/2015/mar/3/oil-export-bans-creating-market-glut-that-could-st/" target="_blank">ConocoPhillips chairman and CEO Ryan Lance</a> told the U.S. Chamber of Commerce that the ban could strangle the U.S. Energy renaissance. He warned of an emerging glut in U.S. oil markets that could shut down production.</p> <p>The U.S. has already surpassed Saudi Arabia as the world’s largest producer of petroleum liquids, which includes condensate from natural gas fields. In fact the U.S. is the third-largest global exporter by volume of oil products. Yet the crude oil from which these materials are produced are barred from being exported.</p> <p><strong>Ban Proponents Ignore Global Reality</strong></p> <p><a href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/wp-content/uploads/ochiltree-county-oil-tank-battery.jpg" target="_blank" data-rel="lightbox-1"><img class="alignleft wp-image-5974 size-medium" style="border: 0px none; margin: 5px 10px;" src="https://web.archive.org/web/20150709191052im_/http://www.arescotx.com/wp-content/uploads/ochiltree-county-oil-tank-battery-300x148.jpg" alt="Ochiltree County Oil Tank Storage Battery" width="300" height="148"/></a>Critics of lifting the ban say that allowing American producers to sell surpluses on the global market would send gas prices skyrocketing. But that argument ignores the dynamic of global markets. Domestic supplies give the U.S. leverage over OPEC, and reduce the cartel’s ability to manipulate prices, especially with respect to Asian refiners. More U.S. supplies will exert downward pressure on equivalent international crude supplies. In fact, studies show expanding exports <a href="https://web.archive.org/web/20150709191052/http://www.washingtontimes.com/news/2014/nov/16/oil-export-ban-repeal-would-lower-gas-prices-studi/?page=all" target="_blank">could lower gas prices</a>.</p> <p>Domestic refiners are also resistant to lifting the export ban. Access to artificially cheap domestic crude supplies has been a boon to refiners, who traditionally operate on thin margins. With depressed feedstock prices, refiners can reel-in fatter margins selling gasoline and diesel fuels on the global market.</p> <p>The <a href="https://web.archive.org/web/20150709191052/http://oilprice.com/Energy/Crude-Oil/Congress-Facing-Huge-Pressure-To-Lift-Oil-Export-Ban.html" target="_blank">petroleum industry is flooding Washington</a> to lobby for an end to the ban. Austin in is getting into the act too. <a href="https://web.archive.org/web/20150709191052/http://www.texastribune.org/2015/03/09/texas-takes-aim-crude-export-ban/" target="_blank">More than 100 Texas House members</a> have signed onto a resolution demanding the ban’s “flawed price control policies” be lifted. The measure has the backing of all three Texas railroad commissioners. They contend that opening Texas sweet crude supplies to global buyers will channel more cash into state coffers.</p> <p>The technological revolution of fracking and horizontal drilling has propelled the U.S. into the position of global energy giant. ConocoPhillips’ Lance is calling on the industry to do a better job educating the public on how fracking and lifting the export ban is a good deal for consumers.</p> <div class="nextpages"></div> <p><b><a href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/arescos-1st-horizontal-well-targeting-woodbine-sand/">previous post: Aresco’s 1st Horizontal Well Targeting Woodbine Sand</a></b></p> <p><b><a href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/aresco-vp-supporting-junior-league-of-collin-county/">next post: Aresco VP Supporting Junior League of Collin County</a></b></p> </div> <div id="sidebar"> <div id="flags" class="size"><ul id="sortable" class="ui-sortable" style="float:left"><li id="English"><a title="English" class="notranslate flag en"></a></li></ul></div><div id="google_language_translator"></div> <p class="titles">Recent News</p> <ul> <li> <a href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/end-the-ban-on-us-crude-oil-exports/">End the Ban On US Crude Oil Exports?</a> </li> <li> <a href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/aresco-acquires-oil-interest-in-cherokee-platform-in-oklahoma/">Aresco acquires oil interest in Cherokee Platform in Oklahoma</a> </li> <li> <a href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/investing-in-energy-with-an-ira-live-webinar/">Investing in Energy with an IRA Live Webinar</a> </li> <li> <a href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/staging-the-next-boom-shale-2-0/">Staging the Next Boom: Shale 2.0</a> </li> <li> <a href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/aresco-supporting-prosper-police-on-substance-abuse-awareness/">Aresco Supporting Prosper Police on Substance Abuse Awareness</a> </li> </ul> <style scoped type="text/css">.utcw-b1fq2ep 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style="font-size:11.5384615385px" title="3 topics">Barnett Shale</a> <a class="tag-link-68 utcw-tag utcw-tag-bradley-winton" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/bradley-winton/" style="font-size:12.3076923077px" title="4 topics">Bradley Winton</a> <a class="tag-link-20 utcw-tag utcw-tag-brandon-laxton" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/brandon-laxton/" style="font-size:13.0769230769px" title="5 topics">Brandon Laxton</a> <a class="tag-link-46 utcw-tag utcw-tag-brazos-basin" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/brazos-basin/" style="font-size:10.7692307692px" title="2 topics">Brazos Basin</a> <a class="tag-link-63 utcw-tag utcw-tag-bridgetex-pipeline" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/bridgetex-pipeline/" style="font-size:10px" title="1 topic">BridgeTex Pipeline</a> <a class="tag-link-61 utcw-tag utcw-tag-canyon-sandstone" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/canyon-sandstone/" style="font-size:10.7692307692px" title="2 topics">Canyon Sandstone</a> <a class="tag-link-74 utcw-tag utcw-tag-charity" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/charity/" style="font-size:13.0769230769px" title="5 topics">Charity</a> <a class="tag-link-51 utcw-tag utcw-tag-corpus-christi" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/corpus-christi/" style="font-size:10px" title="1 topic">Corpus Christi</a> <a class="tag-link-70 utcw-tag utcw-tag-crude-oil-export-ban" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/crude-oil-export-ban/" style="font-size:11.5384615385px" title="3 topics">Crude Oil Export Ban</a> <a class="tag-link-7 utcw-tag utcw-tag-crude-oil-prices" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/crude-oil-prices/" style="font-size:13.8461538462px" title="6 topics">Crude Oil Prices</a> <a class="tag-link-39 utcw-tag utcw-tag-domestic-oil-production" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/domestic-oil-production/" style="font-size:13.0769230769px" title="5 topics">Domestic Oil Production</a> <a class="tag-link-5 utcw-tag utcw-tag-drilling-technology" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/drilling-technology/" style="font-size:17.6923076923px" title="11 topics">Drilling Technology</a> <a class="tag-link-10 utcw-tag utcw-tag-eagle-ford-shale" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/eagle-ford-shale/" style="font-size:26.1538461538px" title="22 topics">Eagle Ford Shale</a> <a class="tag-link-33 utcw-tag utcw-tag-eagle-ford-shale-production" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/eagle-ford-shale-production/" style="font-size:12.3076923077px" title="4 topics">Eagle Ford Shale Production</a> <a class="tag-link-16 utcw-tag utcw-tag-energy-information-administration-eia" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/energy-information-administration-eia/" style="font-size:15.3846153846px" title="8 topics">Energy Information Administration (EIA)</a> <a class="tag-link-36 utcw-tag utcw-tag-energy-production" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/energy-production/" style="font-size:10.7692307692px" title="2 topics">Energy Production</a> <a class="tag-link-42 utcw-tag utcw-tag-fracking" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/fracking/" style="font-size:13.0769230769px" title="5 topics">Fracking</a> <a class="tag-link-30 utcw-tag utcw-tag-gas-prices" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/gas-prices/" style="font-size:10.7692307692px" title="2 topics">Gas Prices</a> <a class="tag-link-58 utcw-tag utcw-tag-gas-to-liquids" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/gas-to-liquids/" style="font-size:10px" title="1 topic">Gas to Liquids</a> <a class="tag-link-34 utcw-tag utcw-tag-horizontal-drilling" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/horizontal-drilling/" style="font-size:16.9230769231px" title="10 topics">Horizontal Drilling</a> <a class="tag-link-8 utcw-tag utcw-tag-hydraulic-fracturing" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/hydraulic-fracturing/" style="font-size:22.3076923077px" title="17 topics">Hydraulic Fracturing</a> <a class="tag-link-29 utcw-tag utcw-tag-investing-in-texas-oil" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/investing-in-texas-oil/" style="font-size:12.3076923077px" title="4 topics">Investing in Texas Oil</a> <a class="tag-link-73 utcw-tag utcw-tag-junior-league-of-collin-county" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/junior-league-of-collin-county/" style="font-size:10px" title="1 topic">Junior League of Collin County</a> <a class="tag-link-4 utcw-tag utcw-tag-keystone-pipeline" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/keystone-pipeline/" style="font-size:10.7692307692px" title="2 topics">Keystone Pipeline</a> <a class="tag-link-49 utcw-tag utcw-tag-mexico-eagle-ford" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/mexico-eagle-ford/" style="font-size:11.5384615385px" title="3 topics">Mexico Eagle Ford</a> <a class="tag-link-45 utcw-tag utcw-tag-mexico-national-hydrocarbons-commission" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/mexico-national-hydrocarbons-commission/" style="font-size:10px" title="1 topic">Mexico National Hydrocarbons Commission</a> <a class="tag-link-18 utcw-tag utcw-tag-natural-gas-production" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/natural-gas-production/" style="font-size:12.3076923077px" title="4 topics">Natural Gas Production</a> <a class="tag-link-62 utcw-tag utcw-tag-noodle-canyon" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/noodle-canyon/" style="font-size:10px" title="1 topic">Noodle Canyon</a> <a class="tag-link-13 utcw-tag utcw-tag-oil-and-gas-investing" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/oil-and-gas-investing/" style="font-size:17.6923076923px" title="11 topics">Oil and Gas Investing</a> <a class="tag-link-19 utcw-tag utcw-tag-oil-exploration" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/oil-exploration/" style="font-size:13.8461538462px" title="6 topics">Oil Exploration</a> <a class="tag-link-17 utcw-tag utcw-tag-oil-production" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/oil-production/" style="font-size:20.7692307692px" title="15 topics">Oil Production</a> <a class="tag-link-32 utcw-tag utcw-tag-opec" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/opec/" style="font-size:13.8461538462px" title="6 topics">OPEC</a> <a class="tag-link-44 utcw-tag utcw-tag-pemex" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/pemex/" style="font-size:10.7692307692px" title="2 topics">Pemex</a> <a class="tag-link-11 utcw-tag utcw-tag-permian-basin" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/permian-basin/" style="font-size:30px" title="27 topics">Permian Basin</a> <a class="tag-link-57 utcw-tag utcw-tag-shale-oil" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/shale-oil/" style="font-size:10.7692307692px" title="2 topics">Shale Oil</a> <a class="tag-link-38 utcw-tag utcw-tag-sweet-crude-oil" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/sweet-crude-oil/" style="font-size:10.7692307692px" title="2 topics">Sweet Crude Oil</a> <a class="tag-link-23 utcw-tag utcw-tag-tax-advantages" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/tax-advantages/" style="font-size:10.7692307692px" title="2 topics">Tax Advantages</a> <a class="tag-link-15 utcw-tag utcw-tag-texas-oil-production" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/texas-oil-production/" style="font-size:21.5384615385px" title="16 topics">Texas Oil Production</a> <a class="tag-link-12 utcw-tag utcw-tag-texas-railroad-commission" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/texas-railroad-commission/" style="font-size:11.5384615385px" title="3 topics">Texas Railroad Commission</a> <a class="tag-link-37 utcw-tag utcw-tag-u-s-oil-production" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/u-s-oil-production/" style="font-size:13.8461538462px" title="6 topics">U.S. Oil Production</a> <a class="tag-link-40 utcw-tag utcw-tag-unconventional-drilling" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/unconventional-drilling/" style="font-size:11.5384615385px" title="3 topics">Unconventional Drilling</a> <a class="tag-link-47 utcw-tag utcw-tag-woodbine-sands" href="https://web.archive.org/web/20150709191052/http://www.arescotx.com/tag/woodbine-sands/" style="font-size:10.7692307692px" title="2 topics">Woodbine Sands</a></div><center><img src="https://web.archive.org/web/20150709191052im_/http://www.arescotx.com/wp-content/themes/arescoA3K/images/vision-opportunity-drive.png" width="144" height="138" alt="Vision Opportunity Drive" style="padding-top:15px;"/></center> </div><div class="clearFix"> </div> </div> </div> <div id="footer"><div class="text"><p>Aresco LP 861 N 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