Obamas lift on a 4decade ban on oil exports

[fxmade2trade]

So far we have seen positive Chinese economic data, the AUD, NZD and CAD received further bolstering when the US paved the way to lifting the ban on US crude oil exports.OBAMAS decision to loosen its four-decade ban on oil exports.

 

[Davidee]

Yeah, I think thanks to shale oil the USA is set to over take Saudi Arabia and become the world's largest oil producer this year and surpass it's 1970 production peak.

I believe talk of the USA become a net exporter of oil and gas by 2030 will turn out to be untrue though, shale is the bottom of the geological barrel and production of shale oil will (I believe) peak far quicker than conventional oil did. Conventional oil production peaked in 2005 or 2008 depending on which figures you believe.

So do you think Obama was correct to lift the ban then?