Sections SEARCH Skip to content Skip to site index Politics Log In Subscribe Log In Today’s Paper Politics | U.S. Oil Exports Are Rising. So Is the Trade Deficit. Supported by ByBinyamin Appelbaum and Jim Tankersley Dec. 6, 2018 WASHINGTON — The United States exported more oil and fuel than it imported last week for the first time in 75 years, a significant milestone in the resurgence of domestic energy production that comes as the Trump administration pushes to increase energy exports even further. To President Trump, increased sales of oil and gas are a way to rebalance trade and close the gap between what the United States buys from foreign countries and what it sells. So far, however, that strategy is not working. The rise in oil exports is not reducing the trade deficit. Instead, as Americans buy less foreign oil, they are buying more of other foreign goods and services. In October, the monthly … [Read more...] about U.S. Oil Exports Are Rising. So Is the Trade Deficit.
Oil export ban
Dino Grandoni, The Washington Post Published 6:24 am PDT, Thursday, September 20, 2018 U.S. petroleum producers have been allowed to sell their product unencumbered overseas due to a compromise between Democrats and Republicans in 2015. Now, three years later, the two Senate candidates vying to represent a major oil-producing state are both trading swipes over the lifting of that long-standing ban on the export of crude oil. With recent polling showing the North Dakota Senate race will be tight, there's been a heated back-and-forth between Republican Rep. Kevin Cramer and Democratic Sen. Heidi Heitkamp over who deserves credit for lifting the ban. Heitkamp is among the most vulnerable Senate Democrats up for reelection, and the Cook Political Report characterizes the race as a toss-up. It started this week when Cramer released a television ad touting the role he played in repealing the oil-export restrictions imposed in the 1970s following the oil embargo from Middle … [Read more...] about The Energy 202: North Dakota Senate candidates feud over who deserves credit for lifting crude oil ban
By Jordan Blum Updated 5:00 am CDT, Monday, August 6, 2018 Photo: Enterprise Products Partners L.P. Image 1of/1 CaptionClose Image 1 of 1 The FPMC C Melody is the first Very Large Crude Carrier to dock and take on crude oil in Texas City. The FPMC C Melody is the first Very Large Crude Carrier to dock and take on crude oil in Texas City. Photo: Enterprise Products Partners L.P. Race is on to build Texas’ first offshore oil export terminal 1 / 1 Back to Gallery The race is on to build Texas’ first offshore oil-exporting terminal that could accommodate the world’s largest crude-carrying vessels. The global commodities trading firm Trafigura Group will announce Monday that it plans to build the Texas Gulf Terminals Project in the Gulf of Mexico, off the coast from Corpus Christi. An … [Read more...] about Race is on to build Texas’ first offshore oil export terminal
LONDON (Reuters) – A senior Iranian Revolutionary Guards commander said on Wednesday that the Guards were ready to implement a policy preventing regional oil exports if Iranian oil sales were banned by the United States. President Hassan Rouhani appeared on Tuesday to threaten to disrupt oil shipments from neighbouring countries if Washington presses ahead with its goal of forcing all countries to stop buying Iranian oil. Praising Rouhani’s remarks, Major-General Qassem Soleimani said he was ready to implement such a policy if needed. “I kiss your (Rouhani’s) hand for expressing such wise and timely comments, and I am at your service to implement any policy that serves the Islamic Republic,” Soleimani, commander of foreign operations for the elite Revolutionary Guards, said in a letter published by state news agency IRNA. Rouhani did not elaborate on his threat but Iranian officials have in the past threatened to block the Strait of Hormuz, a major oil … [Read more...] about Iran’s Revolutionary Guards praises Rouhani’s threat to disrupt regional oil exports
By Jordan Blum Published 12:52 pm, Wednesday, June 27, 2018 Photo: Enterprise Products Partners L.P. Image 1of/1 CaptionClose Image 1 of 1 The FPMC C Melody is the first Very Large Crude Carrier to dock and take on crude oil in Texas City. It’s shown at the Enterprise Products Partners terminal. The FPMC C Melody is the first Very Large Crude Carrier to dock and take on crude oil in Texas City. It’s shown at the Enterprise Products Partners terminal. Photo: Enterprise Products Partners L.P. Oil exports hit new 3 million barrels record 1 / 1 Back to Gallery U.S. crude oil exports hit a new high of 3 million barrels a day last week, shipping out more than a quarter of the nation's record volumes of oil production. Crude oil prices continued surging Wednesday, driven in part by falling petroleum … [Read more...] about Oil exports hit new 3 million barrels record