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Commodities Briefing - Categorized | Market Moves, Oil more

IEA chief: America risks killing its own oil boom

Posted on 08 February 2013

Writing in the Financial Times, IEA executive director Marina van der Hoeven says that if President Obama refuses to raise restrictions on exporting crude and liquid natural gas, the country’s unprecedented oil boom will dry up.
Here’s the situation: technically, American companies are not allowed to export those products, as a result of a Carter-era executive order restricting trade of commodities in “short supply” that’s still on the books. This wasn’t really a problem until recently, as American oil and gas production has gone nuts………………………………………..Full Article: Source


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