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In Consideration of Condensates – Enough Twiddling, Congress: It’s Time to Move on Repealing the Crude Export Ban


In early August, when the Singapore-flagged tanker BW Zambesi left Texas City, TX, for South Korea with $40 million worth of minimally processed condensate aboard, it signaled a major departure from an American energy policy that many consider as outmoded as the leisure suit. Since the mid-1970s, the US government has banned exports of domestically…

In early August, when the Singapore-flagged tanker BW Zambesi left Texas City, TX, for South Korea with $40 million worth of minimally processed condensate aboard, it signaled a major departure from an American energy policy that many consider as outmoded as the leisure suit.

The first US export cargo of condensate in 40 years shipped from Texas this summer.
The first US export cargo of condensate in 40 years shipped from Texas this summer.

Since the mid-1970s, the US government has banned exports of domestically produced crude oil. The ban was a reaction to price shocks that accompanied the Arab oil embargo. The idea was that any oil we could produce here should be used here, giving us a buffer against the whims of the Organization of Petroleum Exporting Countries (OPEC) and its petro states.


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