Markey Assails 'Slippery Slope' of Reported Erosion of Crude Oil Export Ban

Targeted News Service |


WASHINGTON, June 24 -- The office of Sen. Edward J. Markey, D-Mass., issued the following news release: Senator Edward J. Markey (D-Mass.) today strongly disagreed with the reported decision by the Commerce Department to allow the export of some ultra-light crude oil, otherwise known as condensates, as was first reported in the Wall Street Journal. The ban on crude oil exports was put in place by Congress in the Energy Policy and Conservation Act of 1975, when tensions were high with the Middle East and America's import levels were approximately the same as they are today. The regulations on the crude oil export ban discuss these condensates as being included under the prohibition in the law. Below is the statement of Senator Markey, who is a member of the Commerce, Science and Transportation Committee and chairs the Foreign Relations subcommittee that deals with international energy issues: "This reported decision by the Commerce Department puts America on a slippery slope to send more of our oil abroad, even at a time when the Middle East is in disarray and tensions are running high with Russia. We should keep our resources here at home for American families and businesses, not send this oil abroad even as we import oil from dangerous regions of the world. "Congress put this oil export ban in place. It should be Congress that decides when and how to change it, not through a private ruling by the Commerce Department without public debate." TNS30VitinMar-140626-4779986 30VitinMar

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Emerging Growth

First Bitcoin Capital Corp

First Bitcoin Capital Corp is a Bitcoin consolidator. The Company is engaged in Bitcoin mining, payment processing, online products sales and other Bitcoin related business including transfer of crypto-currency.

Private Markets

California Green Tree Development

California Green Tree Development LLC (CGTD) is a for-profit LLC that plans on using California’s booming market of legal cannabis products for medical purposes. As an unprecedented resource, Cannabis has…

Almond Smart Home Router by Securifi

Securifi sells user friendly touch screen routers that also have support for IoT/home automation.Securifi’s Almond revolutionized wireless router setup with its easy to use Touchscreen Interface in 2012. Now our…