US Congress decides to lift 40-year ban on oil export
Source: PTI The US is set to lift a four- decade ban on export of oil, a move that may benefit countries like India by giving them an option to purchase crude from non-Middle Eastern nations. The measure allowing oil exports is at the centre of a deal congressional leaders announced on Wednesday on spending and tax legislation. Both the house and senate still must pass it and President Barack Obama must sign it into law. This legislation is scheduled to be voted on this week before congress adjourns for winter break. "We are lifting the government's 40-year-old ban on crude oil exports. This is big win for American jobs and for our energy industry. It's a big win for our ...
