{"id":4696,"date":"2015-01-21T06:44:56","date_gmt":"2015-01-21T11:44:56","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4696"},"modified":"2015-01-21T06:44:56","modified_gmt":"2015-01-21T11:44:56","slug":"low-prices-driving-record-u-s-crude-oil-exports-despite-crude-oil-export-ban","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4696","title":{"rendered":"Low Prices Driving Record U.S. Crude Oil Exports Despite Crude Oil Export Ban"},"content":{"rendered":"<h3><a href=\"http:\/\/www.desmogblog.com\/2015\/01\/20\/low-prices-driving-record-u-s-crude-oil-exports\" target=\"_blank\">Low Prices Driving Record U.S. Crude Oil Exports Despite Crude Oil Export Ban<\/a><\/h3>\n<p><span class=\"Apple-style-span\"><span class=\"dquo\">\u201c<\/span>Are you more desperate to get a better deal when you\u2019re poor? I guess you are.\u201d<\/p>\n<p>That was John Auers, executive vice president of oil industry consulting firm Turner Mason\u00a0<span class=\"amp\">&amp;<\/span>\u00a0Company, describing the oil industry as being \u201cpoor\u201d and \u201cdesperate\u201d\u00a0<a href=\"http:\/\/www.bloomberg.com\/news\/2015-01-07\/oil-exports-from-u-s-jump-34-to-record-as-shale-output-booms.html\" target=\"_blank\">to Bloomberg<\/a>.<\/p>\n<p>As the oil industry cries poverty due to low oil prices in an effort to justify its attempts to lift all restrictions on exporting crude oil produced in the U.S., it is helpful to remember that this is an industry that was demanding\u00a0<a href=\"https:\/\/www.americanprogress.org\/issues\/green\/news\/2014\/02\/10\/83879\/with-only-93-billion-in-profits-the-big-five-oil-companies-demand-to-keep-tax-breaks\/\" target=\"_blank\">tax breaks for oil production<\/a>\u00a0even when, in 2013, the top 5 companies made a combined $93 billion in profits. In just the second quarter of 2014 alone, a year of poverty and desperation, as the industry tells it, ExxonMobil<a href=\"http:\/\/www.forbes.com\/sites\/maggiemcgrath\/2014\/07\/31\/exxon-mobil-and-conocophillips-in-negative-stock-territory-despite-profit-growth\/\" target=\"_blank\">made $8.8 billion in profit<\/a>.<\/p>\n<p>The \u201cbetter deals\u201d that John Auers was talking about are to be found on the global market, which technically isn\u2019t open to those \u201cpoor\u201d\u00a0<span class=\"caps\">U.S.<\/span>\u00a0crude oil producers due to the crude oil export ban. Crude oil that is produced in the\u00a0<span class=\"caps\">U.S.<\/span>\u00a0is worth more if it is sold on the world market than if it is sold in the United States.<\/span><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Low Prices Driving Record U.S. Crude Oil Exports Despite Crude Oil Export Ban \u201cAre you more desperate to get a better deal when you\u2019re poor? I guess you are.\u201d That was John Auers, executive vice president of oil industry consulting firm Turner Mason\u00a0&amp;\u00a0Company, describing the oil industry as being \u201cpoor\u201d and \u201cdesperate\u201d\u00a0to Bloomberg. As the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[1135,1775,834,2775,845],"class_list":["post-4696","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-exports","tag-oil-price-collapse","tag-us","tag-us-oil-export-ban","tag-us-oil-exports"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4696"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4696\/revisions"}],"predecessor-version":[{"id":4697,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4696\/revisions\/4697"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}