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Cross-Currents: Iranian Oil and the U.S. Export Ban

Cross-Currents: Iranian Oil and the U.S. Export Ban

Full Title: Cross-Currents: Iranian Oil and the U.S. Export Ban
Author(s): U.S. Senate Committee on Energy and Natural Resources
Publisher(s): U.S. Senate Committee on Energy and Natural Resources
Publication Date: June 1, 2015
Full Text: Download Resource
Description (excerpt):

Legislation providing for congressional review of any agreement between Iran and the United States over the Iranian nuclear program was signed into law on May 22, 2015. Such an agreement would certainly include lifting sanctions against Iran’s oil sector, which plays an outsized role in the economy and on Tehran’s balance sheet. At the same time, legislation has been introduced to repeal statutory restrictions on the export of crude oil produced in the United States.

The Obama administration has made numerous official statements on various aspects of these issues. On the one hand, it has assessed the impact of sanctions on Iran and the impact of lifting sanctions on global oil prices. On the other hand, it has examined the changing nature of America’s global energy role and the potential for U.S. oil exports.

Connecting the dots between these matters leads to one inescapable conclusion: the U.S. should not lift sanctions on Iranian oil while maintaining its prohibition on exports of American oil.

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of OurEnergyPolicy.org, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

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