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Page 36 of 59

Read online @ B A K K E N O I L B I Z . C O M / d i g i t a l - j o u r n a l 37 Transportation Solutions Rig & Project Moves Over-Size, Over-Weight Local or Long Distance Lower 48 & Canada ISN Safety Qualified Carriers 24 hour operation / support Assets in every major play in NA (888) 218-5722 SHOULD THE BAN BE LIFTED? Independent refineries, especially those in the North- east and the Midwest, generally want to keep the ban. Refined products are not affected by the crude oil export ban, so refineries can take advantage of the difference in price between Brent crude, the gener- ally accepted international price posted on the In- tercontinental Exchange of London— and West Texas Intermediate crude posted on the New York Mercantile Exchange, the price standard for oil in the U.S. West Texas Intermediate crude is typically lower than Brent. Before the summer recess the House Subcom- mittee on Energy and Power markup session voted on H.R. 702, which calls for the elimina- tion of the ban. The bill was introduced by Chair- man Emeritus Joe Barton (R-Texas). July 30, 2015, the Senate Energy Committee followed with markup and a yes vote on the similarly themed Offshore Production and Energizing National Secu- rity (OPENS) Act, sponsored by Committee Chair Sen. Lisa Murkowski (R-Alaska). The vote was a narrow victory for Murkowski (12-10). At the time, it was said that many Democrats in Congress were not ➤ continued, pg 48

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