US ban on crude exports receives fresh scrutiny

Old US ban on crude exports receives fresh scrutiny

The boom in North American shale oil production has overturned many long-held assumptions about US energy security. No longer does the US appear doomed to import steadily rising amounts of petroleum from unsavoury regimes in the Middle East. In fact, the proportion of US crude consumption from imports dropped from 60% in 2005 to 45% last year, and by 2035 that figure is projected to dwindle to 36%, according to the US Energy Information Administration (EIA).

That trend has raised a question that