End of Crude Oil Export Ban Is a Pipe Dream: Dan Dicker
The prospects for lifting the crude oil export ban are very slim due to the political landscape in 2016, says Dan Dicker, energy contributor at TheStreet.
The crude oil export ban has been in place since the 1970s. Pioneer Natural Resources CEO, Scott Sheffield, puts the probability of an end to the ban at 40-50% in 2015. Dan Dicker, Energy Contributor at TheStreet, tells Jill Malandrino the prospects for lifting the ban are very slim due to the political landscape in 2016. Dicker also states several logistical and operational reasons why the ban will most likely stay in effect. If the ban is lifted, it would positively impact oil producers in West Texas and in the Eagle Ford Shale play like Cimarex, Diamondback and EOG Resources. Conversely, it would hurts refiners in the Gulf Coast like Valero and Phillips 66.
