Exports of hydrocarbons from America are already booming. Lifting the ban on crude-oil exports should be next
▻http://www.economist.com/news/business/21642179-exports-hydrocarbons-america-are-already-booming-lifting-ban-cru
America is already an exporter of crude, too, though that is a well-kept secret. This is chiefly thanks to “swaps”, exports of oil that are balanced by imports of it. The law permits such exchanges on grounds of “convenience or efficiency”. A lot of American crude is already swapped for Canadian. And now Mexico’s state-owned oil company, Pemex, has asked the US Commerce Department for permission to import 100,000 barrels a day of light crude in exchange for the much heavier grades of crude it sends in the opposite direction (in far larger volumes).