There has been a ban on exports of US crude since the Arab oil embargo of 1973, the ban was lifted this week, if any oil is exported in the short term it will be cheaper grades that cannot be economically refined in the US due to regulations or high grade crude that can be sold at a higher price abroad and replaced by import oil. At some point in the future when the US is basically forced to assume the role of the worlds swing producer due to the collapse of OPEC and the comeback of shale then the right to export will allow US companies to regulate the supply and prevent wild price swings to the high side due to shortages in production elsewhere. The US is still a net importer of oil, that will change in the next couple of years due to the current oil price collapse.
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Today's Featured Article - Talk of the Town: The Saga of Grandpa's Tractor - by The following saga is from the Tractor Talk Discussion Forum. Someone. The saga starts with the following message: Hey guys I have a decision to make. I know what you all will probably suggest and it will probably agree with me way down inside, but here it is. I have a picture blown up and framed in my "tractor room" of a Farmall M. It was my Grandpa's tractor, of which whom I never got to meet. He froze to death getting this tractor out of the barn to pull a truck out of the ditch before I was born. Anyway my dad and aunt had to sell it at the auction,
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