Government & Regulatory | Top Story
U.S. May be Quietly Re-Opening Oil Export Barriers
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Enbridge Inc. has confirmed plans to re-export Canadian oil from the United States, according to a report by Reuters.
This could intensify opposition to the new oil sands pipeline and highlights recent issues with U.S. trade policy.
Tidal Energy, a subsidiary of Enbridge Inc., has received a license from the US government license to export limited quantities of Canadian-origin oil from a US port. Sources expect the first shipments to leave Texas ports for Europe later in April.
Since the Arab oil embargo of the 1970's, re-exports of oil from the US are rarely allowed.
Enbridge plans to export less than 1.5 percent of its volume of total US shipments. The company did not detail its port of departure, destination, type of product or volume involved.
This comes after Valero, the largest…
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