Fuel Fix – by Jennifer A. Dlouhy
WASHINGTON — The slumping oil prices that have prompted energy companies to lay down rigs and lay off workers hit domestic producers harder than their international counterparts because of the U.S. crude export ban, Pioneer Natural Resources CEO Scott Sheffield is expected to tell a House panel on Tuesday.
“Price cycles come with the territory, and we will navigate this downturn as we have in the past,” Sheffield says in prepared testimony filed with the House Energy and Power Subcommittee, ahead of a Tuesday afternoon hearing on “world energy markets.” “Producers of domestic oil are especially disadvantaged compared to foreign producers, however, because they cannot receive global prices.” Continue reading “Oil, gas industry urges lawmakers to lift crude exports ban”