Bloomberg BNA – There is sufficient precedent for President Barack Obama to approve crude oil exports using executive authority, according to Sen. Lisa Murkowski (R-Alaska), ranking member of the Senate Energy and Natural Resources Committee.
The U.S. Energy Information Administration is “quite prepared” to review how American exports of crude oil would affect global markets as domestic production is expected to reach about 10 million barrels a day by 2017, agency Administrator Adam Sieminski said.
They’re senior senators from two of the nation’s top oil-producing states, longtime friends who are about to begin a partnership that has environmentalists uneasy and industry lobbyists counting on a shift in energy policy.
Extending U.S. tax credits and deductions is a priority for new Senate Finance Committee Chairman Ron Wyden, even as he indicates there won’t be any major tax changes for individuals or businesses this year.
U.S. Senate Democratic leaders said they would keep working to strike a compromise on reviving expanded jobless benefits, even as the chamber failed to advance the latest plan amid a partisan dispute over amendments.
The top Republican on the Senate Energy Committee urged President Barack Obama to end a 39-year ban on exports of U.S. crude oil, joining what is shaping up as a major election-year debate over energy policy.