Ban on Exporting U.S. Crude Oil Is Essentially Over

When the U.S. Department of Commerce ruled that Enterprise Products Partners L.P. (EPD) and Pioneer Natural Resources Co. (PXD) could begin exporting condensate, U.S. oil refiners' stocks were pummeled. Every time the federal government puts its thumb on the scales, there are winners and losers: this time the refiners lost and production companies won.



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