For 8 years we were assured Obama did everything in his power to make life as hard as possible for the oil industry. In many ways the opposite seems to be true.
Are we the most brainwashed nation or what?
Oil Exports, Illegal for Decades, Now Fuel a Texas Port Boom
In a twist that would have been unthinkable only two years ago, the oil tanker that arrives in China today may be carrying crude that left the South Texas port of Corpus Christi instead of Saudi Arabia.
For 40 years it was virtually impossible to sell American oil to any country except Canada because of an export ban that was a bedrock of United States energy policy. The Obama administration slowly loosened the ban and Congress finally ended it in late 2015 in a compromise that also extended tax credits for renewable energy.
Oil exports grew slowly through most of 2016, but this year there has been a surge reaching 1.3 million barrels a day — roughly 15 percent of domestic production — which even at today’s depressed prices is worth more than $1.5 billion a month.
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