There has been a ban on exports of US crude since the Arab oil embargo of 1973, the ban was lifted this week, if any oil is exported in the short term it will be cheaper grades that cannot be economically refined in the US due to regulations or high grade crude that can be sold at a higher price abroad and replaced by import oil. At some point in the future when the US is basically forced to assume the role of the worlds swing producer due to the collapse of OPEC and the comeback of shale then the right to export will allow US companies to regulate the supply and prevent wild price swings to the high side due to shortages in production elsewhere. The US is still a net importer of oil, that will change in the next couple of years due to the current oil price collapse.
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Today's Featured Article - The Rescue of a Fordson F - by Anthony West. Introduction I live in the UK and have for many years restored Fordson tractors (in the main model N's). I have also restored and shown model F's, E 27N's, Field Marshall Series 2, David Brown Cropmasters and the old rey Fergeson T 20. At one time I had seven restored examples which were shown and used in ploughing matches. As most restorers, I have a number of war stories I can relate on a range of topics that may help other like minded and interested people. Perhaps my first p
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