US lifts 40-year old ban on crude export

US lifts 40-year old ban on crude export amid plummeting oil price

USA has lifted a 40-year-old ban on exports of crude oil - despite historically low prices and a saturated global market. The measure is part of a budget plan for 2016. It's seen as a victory for the Republicans and oil companies, which claim it would boost the American economy and job market. Some Democrats are strongly against the lift.

 

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URGENT: Crude falls below $35 per barrel for first time since 2009 http://on.rt.com/6zff 

 

 

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12:26 AM - 15 Dec 2015