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US Considers Lifting Crude Oil Ban, Exporting to Mexico

Since the 1970s the United States has prohibited the export of its crude oil, except to Canada and a limited number of other nations.

WASHINGTON (Sputnik) — The United States is actively considering lifting an export ban on crude oil to Mexico, US Energy Secretary Ernest Moniz said Monday at the 2015 US Energy Information Administration conference.

“It is certainly being looked at,” Moniz said of the United States creating a full North American exemption for its ban on crude oil exports.

Moniz explained that the United States will be looking at “much greater integration” with Mexico in the electricity sector. There is “active consideration” of US-Mexico swaps of heavier oil for lighter oil, he said.

In the past five years, the United States has moved from being a net importer of oil to become the world’s largest oil producer. The United States is projected to produce more than 9 million barrels of oil in 2015, according to the US Energy Information Agency.

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