{"id":8947,"date":"2015-06-09T06:16:28","date_gmt":"2015-06-09T11:16:28","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8947"},"modified":"2015-06-09T06:16:28","modified_gmt":"2015-06-09T11:16:28","slug":"mexico-and-american-oil-companies-want-a-crude-swap-to-open-loophole-in-the-oil-export-ban","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8947","title":{"rendered":"Mexico and American Oil Companies Want a Crude Swap to Open Loophole in the Oil Export Ban"},"content":{"rendered":"

Mexico and American Oil Companies Want a Crude Swap to Open Loophole in the Oil Export Ban<\/a><\/h3>\n

As politicians from oil-producing states work to\u00a0draw up bills to end the ban on oil exports<\/a>, Mexican officials are \u201cconfident\u201d that the country will soon be importing American crude through a backdoor loophole in the\u00a0law.<\/p>\n

Back in January, Mexico applied for a crude swap that, if approved, would allow the\u00a0U.S.<\/span>\u00a0to export 100,000 barrels of oil per day to Mexico. This would be unrefined crude \u2014 refined products such as diesel and gasoline are not subject to the ban \u2014 likely from the Eagle Ford and Permian shale fields, where fracking has produced a glut of light, sweet crude in recent\u00a0years.<\/p>\n

Though the crude oil export ban has been in place for about four decades, it allows for certain exemptions to be permitted. Exports to Canada, for instance, are allowed, so long as the oil will be processed and consumed in Canada. And last year, Commerce Department officials in the Obama administration\u00a0approved the export of condensate<\/a>, an extremely light and gassy form of oil that can be minimally processed in the field without any trip to a\u00a0refinery.<\/p>\n

Condensates are already flowing heavily out of Texas shale regions, and since permission was granted last November, there\u2019s been a rush of condensate exports to\u00a0Mexico.<\/p>\n

If the crude swap is approved, it\u2019ll open up another loophole to the export ban for crude to flow\u00a0through.<\/p>\n

Very few exceptions have been made to the ban since it was implemented as a response to the Arab oil embargo in 1973.Exports are allowed to Canada<\/a>\u00a0\u201cfor consumption or use therein,\u201d and very limited exports are allowed from\u00a0Alaska.<\/p>\n

Last September,\u00a0Alaska shipped off its first crude export in over a decade<\/a>.<\/p>\n

 <\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Mexico and American Oil Companies Want a Crude Swap to Open Loophole in the Oil Export Ban As politicians from oil-producing states work to\u00a0draw up bills to end the ban on oil exports, Mexican officials are \u201cconfident\u201d that the country will soon be importing American crude through a backdoor loophole in the\u00a0law. Back in January, […]<\/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":[2,3],"tags":[184,6240,517,588,6241,1135,6242,827,6243],"class_list":["post-8947","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-crude-oil","tag-crude-swap","tag-mexico","tag-oil","tag-oil-export-ban","tag-oil-exports","tag-refined-oil","tag-united-states","tag-unrefined-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8947","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=8947"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8947\/revisions"}],"predecessor-version":[{"id":8948,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8947\/revisions\/8948"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}