When President Barack Obama first took office in
2009, he was expected to be an adversary of oil and gas companies, seen
as polluters of the environment. He hasn’t been.
Last week, Mr. Obama helped the industry achieve its biggest priority of the past two years: the lifting of the 40-year-old ban on oil exports, which he signed into law as part of broader spending and tax legislation.
The White House helped negotiate lifting the ban with Congress in exchange for temporary renewal of tax credits for wind and solar industries—energy industries that provide electricity and for the most part don’t directly compete with the oil industry, which provides transportation fuel.
Mr. Obama’s signing of the bill prompted the American Petroleum Institute, the nation’s largest trade association representing all parts of the oil and gas industry, to issue a rare press release cautiously praising his role: “The president’s decision to end the ’70’s-era crude export ban will benefit consumers and enhance our energy security.”
http://blogs.wsj.com/washwire/2015/12/23/obama-has-been-more-friend-than-foe-to-oil-industry/
Last week, Mr. Obama helped the industry achieve its biggest priority of the past two years: the lifting of the 40-year-old ban on oil exports, which he signed into law as part of broader spending and tax legislation.
The White House helped negotiate lifting the ban with Congress in exchange for temporary renewal of tax credits for wind and solar industries—energy industries that provide electricity and for the most part don’t directly compete with the oil industry, which provides transportation fuel.
Mr. Obama’s signing of the bill prompted the American Petroleum Institute, the nation’s largest trade association representing all parts of the oil and gas industry, to issue a rare press release cautiously praising his role: “The president’s decision to end the ’70’s-era crude export ban will benefit consumers and enhance our energy security.”
http://blogs.wsj.com/washwire/2015/12/23/obama-has-been-more-friend-than-foe-to-oil-industry/
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