Continental Resources’ Harold Hamm Calls for End to Ban on Exports of U.S. Crude

摘要

“Congress needs to lift the ban on exporting crude oil from the U.S.,” Harold Hamm, chairman and CEO of Continental Resources Inc., told the 2015 EIA Energy Conference, in Washington, DC, this month. Allowing the export of this oil would help level the playing field with foreign producers. Crude oil export legislation is necessary to resolve the U.S. refining shortage on “light sweet” crude. Hamm warned that the U.S. energy renaissance could be “endangered,” given not only the shortage in domestic refining capacity but also in face of “predatory pricing practices of the Organization of Petroleum Exporting Countries (OPEC).” According to Hamm, OPEC’s decision to continue to pump crude in the face of collapsing oil prices is deliberately targeted to hurt the U.S.