tag:blogger.com,1999:blog-2761684730989137546.post2650246969667061524..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: GOP Divided Over Oil Export Banmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2761684730989137546.post-91921120498238583732014-09-30T09:43:34.181-04:002014-09-30T09:43:34.181-04:00"The industry as a whole isn't united eit..."The industry as a whole isn't united either in the crusade, It would probably have a negative impact on the gulf coast refining, chemical and plastics industry if the spread advantage of US crude diminished. <br /><br />In all likelihood, The crude oil export ban is probably illegal under our neo-liberal trade agreements and rumor is that several European allies threatened by Russian energy supply cuts this year plan to challenge the ban."<br /><br />Interesting, didnt think of that. If this debate does heat up next year it will certainly be a fascinating one to follow.The Just Gatekeeperhttps://www.blogger.com/profile/06725052297330669528noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-60177690268550987102014-09-29T22:14:41.685-04:002014-09-29T22:14:41.685-04:00Economics always sees everything in black and whit...Economics always sees everything in black and white: resources good, exports bad. But regulatory barriers are rarely effective when many opportunities exist for arbitrage.<br /><br />The industry already exports oil after various levels of processing and refining, all of which is completely legal. Some barely-refined grades of condensate were approved for export earlier this year and helped to reduce spreads with world prices for ultralight crude.<br /><br />A favorable outcome to the debate in Washington would be helpful but it sort of doesn't make a huge difference. The ban in place probably only suppresses domestic resource development on highly marginal fields anyway. <br /><br />The industry as a whole isn't united either in the crusade, It would probably have a negative impact on the gulf coast refining, chemical and plastics industry if the spread advantage of US crude diminished. <br /><br />In all likelihood, The crude oil export ban is probably illegal under our neo-liberal trade agreements and rumor is that several European allies threatened by Russian energy supply cuts this year plan to challenge the ban. Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.com