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document.getElementById("rotator").style.backgroundImage = "url(" + dir + images[randomCount] + ")"; </script> <div class="container content"> <div class="row"> <div class="col-lg-9 col-md-9 padright"> <h1 class="blogtitle">Permian Basin Scores with Lifting of Crude Oil Export Ban</h1> <p style="font-size:11px;">Monday, January 18th, 2016 and is filed under <a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/category/new-mexico-oil-and-gas-investing/" rel="category tag">New Mexico Oil and Gas Investing</a>, <a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/category/oil-and-gas-current-events/" rel="category tag">Oil and Gas Current Events</a>, <a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/category/permian-basin-oil-news/" rel="category tag">Permian Basin Oil News</a>, <a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/category/texas-oil-and-gas-investing/" rel="category tag">Texas Oil and Gas Investing</a></p> <div id="s-share-buttons" class="horizontal-w-c-circular s-share-w-c"><a href="https://web.archive.org/web/20160417063816/http://www.facebook.com/sharer.php?u=http://www.arescotx.com/permian-basin-scores-with-lifting-of-crude-oil-export-ban/" target="_blank" title="Share to Facebook" class="s3-facebook hint--top"></a><a href="https://web.archive.org/web/20160417063816/http://twitter.com/intent/tweet?text=Permian Basin Scores with Lifting of Crude Oil Export Ban&url=http://www.arescotx.com/permian-basin-scores-with-lifting-of-crude-oil-export-ban/" target="_blank" title="Share to Twitter" class="s3-twitter hint--top"></a><a href="https://web.archive.org/web/20160417063816/https://plus.google.com/share?url=http://www.arescotx.com/permian-basin-scores-with-lifting-of-crude-oil-export-ban/" target="_blank" title="Share to Google Plus" class="s3-google-plus hint--top"></a><a href="https://web.archive.org/web/20160417063816/http://www.linkedin.com/shareArticle?mini=true&url=http://www.arescotx.com/permian-basin-scores-with-lifting-of-crude-oil-export-ban/" target="_blank" title="Share to LinkedIn" class="s3-linkedin hint--top"></a><div class="pinit-btn-div"><a href="//web.archive.org/web/20160417063816/http://www.pinterest.com/pin/create/button/" data-pin-do="buttonBookmark" data-pin-color="red" title="Share to Pinterest" class="s3-pinterest hint--top"></a></div> <script type="text/javascript" async defer src="//web.archive.org/web/20160417063816js_/http://assets.pinterest.com/js/pinit.js"></script><a href="https://web.archive.org/web/20160417063816/mailto:/?Subject=Permian%20Basin%20Scores%20with%20Lifting%20of%20Crude%20Oil%20Export%20Ban&Body=Here%20is%20the%20link%20to%20the%20article:%20http://www.arescotx.com/permian-basin-scores-with-lifting-of-crude-oil-export-ban/" title="Email this article" class="s3-email hint--top"></a></div><p><a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/wp-content/uploads/permian-basin-delaware-basin.jpg" target="_blank" rel="attachment wp-att-8351" data-rel="lightbox-0" title=""><img class="alignleft wp-image-8351" style="border: 0px none; margin: 5px 10px;" src="https://web.archive.org/web/20160417063816im_/http://www.arescotx.com/wp-content/uploads/permian-basin-delaware-basin.jpg" alt="Permian Basin" width="375" height="250" srcset="https://web.archive.org/web/20160417063816im_/http://www.arescotx.com/wp-content/uploads/permian-basin-delaware-basin-300x200.jpg 300w, https://web.archive.org/web/20160417063816im_/http://www.arescotx.com/wp-content/uploads/permian-basin-delaware-basin-768x512.jpg 768w, https://web.archive.org/web/20160417063816im_/http://www.arescotx.com/wp-content/uploads/permian-basin-delaware-basin.jpg 810w" sizes="(max-width: 375px) 100vw, 375px"/></a>The doors to the global oil market were opened wide to America’s oil producers after they had been closed tight(-ish) for 40 years after the successful passage of a $1.1 trillion omnibus government budget package last month. One of the major benefactors of ending the crude oil export ban looks to be the Permian Basin.<span id="more-8349"></span></p> <p><strong>Background:</strong></p> <p>The “<a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/tag/crude-oil-export-ban/">crude oil export ban</a>” has been in place since the U.S. fell victim to price manipulation and an outright oil embargo at the hands of increasingly unfriendly Middle East suppliers. The impact of <a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/tag/opec/">OPEC</a>’s game was seen in America in the form of devastating reductions in supply and resultant rationing measures. In response, President <a href="https://web.archive.org/web/20160417063816/https://en.wikipedia.org/wiki/Jimmy_Carter" target="_blank">Jimmy Carter</a> signed into law the <a href="https://web.archive.org/web/20160417063816/https://www.govtrack.us/congress/bills/94/s622/text" target="_blank">Energy Policy and Conservation Act of 1975</a> which, among other measures, prohibited the export of domestically produced crude. The Washington Post referred to it last year it as “a desperate ploy in the 1970s to control commodities markets amid spikes in oil prices induced by the Organization of the Petroleum Exporting Countries.” Their editorial board also went on to say “Keeping it in place now is an economically incoherent policy, particularly when removing it would encourage an industry that is transforming the fortunes of large swaths of the nation. Congress should lift the ban entirely.”</p> <p><a href="https://web.archive.org/web/20160417063816/http://www.txoilinvestments.com/" target="_blank" rel="attachment wp-att-4720"><img class="aligncenter wp-image-4720 size-full" src="https://web.archive.org/web/20160417063816im_/http://www.arescotx.com/wp-content/uploads/investing-in-permian-basin-oil.jpg" alt="Investing in Texas Permian Basin Oil" width="600" height="200" srcset="https://web.archive.org/web/20160417063816im_/http://www.arescotx.com/wp-content/uploads/investing-in-permian-basin-oil-300x100.jpg 300w, https://web.archive.org/web/20160417063816im_/http://www.arescotx.com/wp-content/uploads/investing-in-permian-basin-oil.jpg 600w" sizes="(max-width: 600px) 100vw, 600px"/></a></p> <p><strong>Today:</strong></p> <p>And that is exactly what happened on December 18, 2015 when President Obama approved the bill as a result of a series of fortunate circumstances. First is the game-changing explosion in production in recent years due to the widespread application of industry innovation. Exploitation of resource deposits in previously unprofitable shale formations has lifted the United States above Russia into the top spot in oil and gas production. Second is political concessions made by Congressional leaders on both sides of the aisle. Newly elected Majority Leader, <a href="https://web.archive.org/web/20160417063816/https://paulryan.house.gov/" target="_blank">Paul Ryan</a>, led the Republicans in making several concessions to see the ban lifted including allowing Democrats to include a five-year extension on tax credits for wind and solar energy producers. The Democrats thereby avoided a stalemate and a shutting down of D.C. And Republicans are able to give domestic energy producers a much-deserved boost to their bottom line as the stable of potential buyers is expanded considerably.</p> <p><strong>Tomorrow:</strong></p> <p><strong><a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/wp-content/uploads/Laredo-Petroleum-Garden-City-Acreage.jpg" target="_blank" rel="attachment wp-att-8355" data-rel="lightbox-1" title=""><img class="alignright wp-image-8355" style="border: 0px none; margin: 0px 0px 5px 10px;" src="https://web.archive.org/web/20160417063816im_/http://www.arescotx.com/wp-content/uploads/Laredo-Petroleum-Garden-City-Acreage.jpg" alt="Laredo Petroleum Garden City Acreage" width="300" height="432"/></a>Why does the Permian Basin stand to be the big winner in this changing scene?</strong></p> <p>The <a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/tag/permian-basin/">Permian Basin</a> is the overwhelming leader in production of West Texas Intermediate (WTI) crude oil. WTI, the highest grade crude, was once the benchmark for oil pricing internationally and looks likely to challenge Brent (North Sea) crude for that position of preference. When it comes to producing “sweet Texas crude,” the Permian Basin has two huge advantages–strong existing production and massive running room for growth:</p> <ul> <li>The <a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/tag/energy-information-administration-eia/">Energy Information Administration (EIA)</a> recently reported that the Permian Basin’s December 2015 crude production equaled approximately two million barrels of oil per day, a 0.7% gain over November 2015. A year-to-year comparison shows a 12% rise in production from December 2014.</li> <li>The Permian Basin is projected to remain a production powerhouse well into the future. Now, due to widespread innovation, industry experts estimate that the Permian Basin contains recoverable oil and natural gas resources exceeding that which has been produced over the last 90 years.</li> </ul> <p>With these factors in play, the Permian Basin is poised take advantage of this new reality–especially when supply eventually tightens up and prices begin to rebound. With the lifting of the crude oil export ban, producers throughout the basin now enjoy the freedom to move their barrels to refineries across Europe or Asia, serving new markets while receiving world pricing.</p> <p><a href="https://web.archive.org/web/20160417063816/http://www.txoilinvestments.com/" target="_blank" rel="attachment wp-att-4787"><img class="aligncenter wp-image-4787 size-full" src="https://web.archive.org/web/20160417063816im_/http://www.arescotx.com/wp-content/uploads/permian-basin-investing-questions.gif" alt="Permian Basin Oil Investing Questions?" width="600" height="40"/></a></p> <div class="nextpages"></div> <div style="padding-top:30px;"> <ul class="pager">  <li class="nav-previous"><a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/permian-basin-oil-producers/" rel="next">Previous</a></li>  <li class="nav-bloghome"><a href="https://web.archive.org/web/20160417063816/http://www.arescotx.com/latest-news/"><span class="icon"></span>All 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