Oil Industry May Invoke Trade Law to Challenge Export Ban [View all]

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http://www.bloomberg.com/news/2013-11-06/oil-industry-may-invoke-trade-law-to-challenge-export-ban.html

The U.S. oil industry, riding a domestic energy boom, is preparing to challenge restrictions on crude exports, possibly by arguing that limits designed to keep petroleum in America may violate international trade rules.

“Export issues are something we’re going to have to address,” John Felmy, the chief economist for the American Petroleum Institute trade group, said in an interview. “It’s a debate we have to have.”

He declined to discuss lobbying strategy or trade rules, though a June planning document on API letterhead obtained by Bloomberg News says the group has begun to develop “the necessary legal analysis” to support export approvals.

API is planning to “highlight potential violations of the World Trade Organization rules against export restrictions,” according to the draft document, prepared for the group’s executive committee meeting.