Oil Export Ban Lifted; Implications for Eagle FordJanuary 7, 2016 On December 18, 2015, President Obama signed the Consolidated Appropriations Act of 2016 (H.R.2029.ENR) which lifts a long-standing ban on the export of crude oil from the United States, effective immediately. The repealed ban will affect energy markets in the United States, Mexico, and other international regions. For example, a study by Rice University, published in March 2015, indicates the repeal of the export ban will be positive in terms of the effects on the Eagle Ford Shale play in southwest Texas.
- Link to: Full text of H.R.2029.ENR
- Link to: To Lift or Not to Lift? (study published by Rice University)
- Link to: Oil Exports: Good News for Eagle Ford (from eaglefordshale.com)
- Link to: Export Control of Crude Oil (U.S. Department of Commerce Bureau Industry and Security)
- Link to: First Eagle Ford Crude Ships to Europe: Companies Move Quickly After Ban is Lifted (from eaglefordshale.com)
THIS INFORMATION IS PROVIDED AS A COURTESY – NOT AS LEGAL ADVICE. Please know that we are raising the above issues as a courtesy and for informational purposes only. It is not intended as a substitute for legal advice concerning a particular situation that may be affecting your business. PASS IT ON If you know someone who would benefit from this information please share it.