OKLAHOMA: Forty years after President Gerald Ford banned the export of crude oil from the United States amid supply worries, momentum is building to remove the restriction and some of the benefits could spill into Canada.
With more Iranian oil re entering the market if sanctions are lifted, and U.S. tight oil production growing despite the crash in oil prices, a campaign to lift the ban could garner the legislative support it requires to let surplus supplies flow into world markets.
A string of legal victories has emboldened Canada’s First Nations to command unprecedented say over resource projects, the latest example being last month’s Lax Kw’alaams refusal of a $1.14-billion benefits package rather than giving consent to the Pacific NorthWest LNG project in northern British Columbia.
