<blockquote>'..New technology is tapping oil-bearing shale formations in states such as North Dakota and Texas. Most of this product is light oil, which does not require heavy refining. Some of the most advanced refineries in the world are along the Gulf Coast , but that’s actually a problem: Their owners invested in expensive facilities suited to refining heavier crude, so there is a mismatch between the refining infrastructure and the type of crude flowing from U.S. wells. In the deeply interconnected global oil market, in which borders matter less than many people think, the obvious solution is to allow oil companies to ship the light crude to refineries suited for processing it, supporting U.S. profits and U.S. jobs in the process, and to tolerate imports of crude oil that U.S. refineries can handle .. it would encourage an industry that is transforming the fortunes of large swaths of the nation..'
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Commerce Dept. should allow exports of U.S. crude, August 6, 2014 (
'..increase U.S. jobs..' August 11, 2014</blockquote>
<blockquote>'Restrictions on crude oil exports are already beginning to undermine the efficiency of the U.S. oil economy. Much of the country's rapidly growing production of light crude oil, including lease condensates (i.e., ultra-light oil), comes from either areas where refiners are not interested in or able to process it, given that many U.S. refineries are configured to run lower-quality crude oil, or in parts of the country with inadequate transportation infrastructure. With few viable domestic buyers, producers are forced to choose between leaving oil in the ground and pumping it at depressed prices. These artificially low prices slow additional U.S. crude oil production. New refineries and pipelines currently under construction will help remedy some of these market distortions over time, but a simpler, more cost-effective solution would include allowing U.S. crude to be exported..'
- Blake Clayton,
The Case for Allowing U.S. Crude Oil Exports, July 2013</blockquote>
Context<blockquote>
America's Oil Export Policy Is Stuck in the '70s, August 4, 2014
(US oil export) - '..the first unrestricted sale of unrefined American oil since the 1970s.' ('..end to the ban on exports..')(Green Energy Mix) - Biofuel: '..a 10,000 acre Joule plant will produce a reserve value of 50 million barrels, equaling a medium-sized oil field.'