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Sunday, January 3, 2016

Ban on Crude-Oil Exports: A deal that will speed up the shift from fossil fuels more than the global climate deal

How Big Oil and Nancy Pelosi Defeated the House Freedom Caucus (Ryan Lizza) from the New Yorker
"The most significant policy change in the legislation is an end to the forty-year ban on American crude-oil exports, which Democrats agreed to in return for an extension of solar- and wind-energy-industry tax credits. The extension of the tax credits is an enormous victory for Democrats, perhaps the most significant green-energy achievement of the Obama era. Bloomberg Business, citing one industry analyst, says, “the deal will speed up the shift from fossil fuels more than the global climate deal struck this month in Paris and more than Barack Obama’s Clean Power Plan that regulates coal plants.”"

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