Friday, December 25, 2015
Oil Export Ban Lifted
Congress’s bipartisan spending bill lifted the ban on crude oil exports. The annual appropriations bill included a provision to lift the ban that had been put in place in 1975 to protect consumers from international crises like the OPEC oil embargo.
The deal allowed a five-year renewable energy tax credit extension.
The Democratic leadership traded this ban for a small extension of taxes that support renewable energy. (The Hill, 12/16/2015)