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About one year after the Secretary of Energy Ernest Moniz first raised the four-decade-old ban as an item for discussion, the Department of Commerce on Dec. 30 took steps toward allowing export of the oil. Congress passed the export ban after the 1970 s Arab oil embargo led to snaking lines at gas stations and fears of a global energy shortage.
WASHINGTON, Dec 30- The Obama administration on Tuesday bowed to months of growing pressure over a 40- year-old ban on exports of most domestic crude, taking two steps expected to unleash a wave of ultra-light shale oil onto global markets. The Bureau of Industry and Security, or BIS, which regulates export controls, said it had granted permission to "some"...
WASHINGTON, Dec 30- The U.S. Department of Commerce said it gave "some" oil companies on Tuesday permission to export a lightly processed crude oil, taking the first action in several months on applications from about 20 energy companies eager to ship the fuel abroad. The Bureau of Industry and Security, an office of the Commerce Department, did not say how many...
WASHINGTON, Dec 30- The Obama administration released on Tuesday a long-awaited explanation of what petroleum is allowed to be shipped under the contentious 40- year ban on exports of most domestic crude. The Bureau of Industry and Security released the guidance in the form of frequently asked questions, or FAQ, in the first effort by the administration to...
A U.S. export authority told some oil companies that they should consider exporting a lightly processed form of crude oil without formal permission.
WASHINGTON, Dec 30- The main U.S. export authority is telling some oil companies that they should consider exporting a lightly processed form of crude oil called condensate without formal permission, according to people familiar with the discussions. In conversations that may help clear the way for more overseas sales of U.S. shale oil, the Commerce...
Some of Monday's midday movers:
"Mad Money" host Jim Cramer clues you in to where you need to be looking come Friday’s report.
M&A is alive and well in the energy sector. Here's the buzz about which companies might be next, says NYSE floor trader Kenny Polcari.
Some big energy companies are showing signs of pulling back on capital expenditures, according to a report in Oilprice.com.
The Commerce Department's approvals to Pioneer Natural Resources Co and Enterprise Product Partners LP this year were issued as private letters, which makes it hard for other drillers to discern exactly what petroleum the government considers legal. Products, unlike crude, are exempt from the ban that Congress passed after the Arab oil embargo of the 1970 s.
With the GOP taking control of both houses of Congress, at least one pro thinks some big changes lie ahead, especially in the energy sector.
Some of Wednesday's midday movers:
The Dow has not had a loss in a pre-election year since 1939, a statistic that suggests stocks could be up again in 2015.
Are you ready skeedaddy???!!! It's time for the Lightning Round. Cramer makes the call on viewer favorites.
Stocks failed to hold gains after a strong rally, as oil's late-day plunge overshadowed the bounce in tech, transports and industrials.
Guess what delivers higher returns than both Google and Apple? (Hint: Think booze and underwear!)
Pickens also shared some investing ideas within the energy sector, including his thoughts on MLPs and producer consolidation.
It's time for the Lightning Round. Cramer makes the call on viewer favorites.
U.S. oil production continues to boom, and a loophole in a law has allowed the first export of unrefined American oil in decades.