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 - History of the Field Marshall Tractor - by Anthony West. Any restorer who has some knowledge of turn of the century farm machinery, will recognize the name Lanz Bulldog!! This machine was to say the least unusual in its appearance. The huge flywheel and coffee percolator shaped exhaust. Along with square body lines and cylinder head protruding forward of the front axle. Would become the visual differentiation that people would quote to separate the Lanz from other period machines. The Marshall company based at the Briannia Works in Gainsborough
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