US is now closer than yet far away from lifting a 40 year ban on crude oil exports, which could reshape not only crude oil market but global geo-politics. The ban came into force back in 1970s, when Arab oil embargo pushed domestic crude oil price beyond roof.
Last week, Republican controlled US House of Representatives has passed bill to lift the ban by voting 261 in favor and 159 against.
- Republicans argued that it would bring about thousands of jobs for US economy and $25 billion in revenue by 2020.
- Moreover it would raise US's influence in global geo-politics and reduce Russia's dominance with its vast energy supply.
However, it could be still some time before this bill see the final green light. It would be very hard for republicans to pass it through Senate controlled by Democrats.
Moreover President Obama has threatened to veto the bill.
Question is not if, but when will the bill pass- after presidential election next year is most likely.


A Korean Family Spent 34 Years Hoarding Chinese Tea. Now They're Putting It on the Blockchain.
Europe Heatwave Creates Growth Opportunity for Carrier, Trane, and Johnson Controls, Citi Says
Despite its best efforts, Iran won’t be able to toll the Strait of Hormuz. Here’s why
Economic pessimism has set in – but there are reasons for Australians to be hopeful
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer
With Iran and the US signing a peace deal, where does that leave Benjamin Netanyahu?
Sell the Bounce": Gold Rally Stalls Near $4165 as Fed Hawks Slam the Door on Rate Cuts — Targets $4000/$3600
Gold Surges Above Key EMAs, Bulls Eye Resistance Amidst Bullish Momentum
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns
Part II — The listing: NFTs as bottle-stamps, and a vault the family is in no rush to sell 



