Saturday, July 20, 2024

Logo Central America Link

Obama allows limited US exports of crude to Mexico

Monday, August 17, 2015

The Obama administration gave oil companies temporary permission to export a limited amount of oil to Mexico at a time when a glut is cutting into domestic petroleum profits and employment.

The decision by the Commerce Department fell short of removing a ban on crude exports that goes back to the 1970s, when international oil boycotts produced long lines at gasoline stations and threatened the American economy.

Source: New York Times