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Narrow Shift by Washington on Oil Exports
The New York Times: As the oil industry pushes the Obama administration to lift a longstanding ban on the export of crude oil, the Commerce Department has granted two Texas companies permits to export a light, processed form of oil, according to people familiar with the matter.
Over the last year, pressure has increased on the Obama administration to end the ban on crude oil exports, which has been in place since the 1970s Arab embargo magnified concerns about the oil supply. There has been a recent boom in domestic oil production thanks to breakthroughs in production techniques, like hydraulic fracturing, or fracking.
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