WASHINGTON (Sputnik) — The Shell Oil Company welcomes the repeal of the 40-year-old ban on US crude oil exports, company’s spokesperson Curtis Smith told Sputnik on Thursday.
"We welcome the lifting of the export ban on US crude," Smith said. "Free trade policies that assist in matching supply with demand are beneficial to government, industry and consumers, alike."
The US Congress approved on December 18 a massive year-end government spending bill that included a provision to lift the ban on US crude oil exports in exchange for multi-year, guaranteed tax credits for renewable energies.
Over the past two decades, the United States has only been able to export limited amounts of oil in North America and to some of its close allies because of the export ban.