Washington: lifting the ban on oil export revenues increase to $ 1.3 trillion in 15 years

A report by the research group in the field of energy, the possibility of increasing the revenues of the U.S. government more than a trillion dollars and lower fuel prices and provide more than 300 thousand jobs per year on average, if U.S. lawmakers decided to lift the ban 40 years ago on the export of oil.

In a more optimistic calendars for the advantages of allowing the export of U.S. crude, cited the report «IHS» that gasoline prices will fall about eight cents a gallon because the lifting of the ban will pump more crude oil in the oil markets and lower global fuel prices. And increase government revenues from taxes and royalties associated with the energy industry 1.3 trillion dollars from 2016 to 2030. According «IHS» the jobs in the production of crude and oil field services companies will increase in that period by 340 thousand jobs per year on average, peaking at 964 thousand jobs Additional in 2018.

Said historian Energy Vice Chairman «IHS», Daniel Yergin «That would be a great stimulus to the economy and the private sector will bear the cost of the government does not, in fact, the government will earn a lot of money».

It is noted that Congress is authorized alone lifting ban on the export of crude, was imposed after the price shocks caused by the Arab oil embargo in 1973, which fostered the belief that the U.S. oil resources run out. But supply fears evaporated in recent years thanks to the oil boom of shale that may make the United States the largest producer of crude in the world is superior to both Saudi Arabia and Russia.

, The spokesman said «National Oil Corporation» in Libya attainment of the country’s crude production is currently 155 thousand barrels per day, or about ten percent of the country’s capacity amounting to 1.6 million barrels per day. The spokesman, Mohammed warming in front of a conference in London «production comes from offshore fields». He noted that the two ports reopened in April in the framework of an agreement between the government and the militants do not currently exports accounted oil but is expected to resume exports soon.

He confirmed that exports parked in the port Azwaitina because of vacuum storage tanks and did not resume fields feeder port after work. He pointed out that the work is going on to defuse the crisis in Port Harika in the east of the country and the expected resumption of exports from there soon.

He announced the new head of the institution making Mustafa God, that Libya is still importing large quantities of gas oil to run power plants, in addition to gasoline to make up the shortfall in the production of local refineries.

On the other hand, said Turkish Energy Minister Taner Yildiz, the oil flow to Turkey via a pipeline under the Kurdistan Regional Government at a rate between 100 and 120 thousand barrels per day after the first shipment last week. But he pointed out that the supply of crude oil parked in the Iraqi pipeline connecting the Kirkuk oilfields to the Turkish port of Ceyhan on the Mediterranean Sea, which crashes since early March after being subjected to repeated attacks.

And off the coast of Japan, an explosion occurred on board a Japanese oil tanker was sailing near-empty announced as the Coast Guard and the Prime Minister. The incident occurred on board the vessel, which weighs 998 tons, just a few kilometers off the port in the Sea of ​​Higima Soto, who witnessed the movement of active naval navigation. Coast Guard and pull seven of the eight crew members and all of them Japanese and transfer four of them to the hospital. An eighth, the captain of the ship, 64-year-old, is still missing. He is responsible for the processing of the ship’s company «Syuhu Chipping» Navy, Akihiro Kumara to that «the ship emptied of oil in the port area of ​​Hyogo and were almost empty when the incident occurred». The «it seems to reignite the fire started when one of the sailors used a sharp object to remove the paint, and the explosion occurred when I got to fire the remaining oil in the bottom of the ship».

In the markets, the price of «Brent» above $ 110 a barrel by the signs of improved demand from the United States the largest consumer of oil in the world, after the sharp decline of the stock of the country’s gasoline boosting indicators of improvement in the economy in the recent period.

And contributes to improved demand outlook in support prices already high due to concerns of supply disruptions Libyan and breadth of the dispute regarding the Ukraine between Russia and the West. But investors expect a correction in the market where it is believed some of the gains that exceeded the limit. Crude rose «Brent» 28 cents to 110.09 dollars a barrel after closing down 21 cents yesterday. U.S. crude rose 14 cents to 102.86 dollars after closing down $ 1.39, with the dealers to sell for a profit before a government report expected to show an increase in crude stocks.

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