After Washington Chats, Drillers Hopeful US Will Ease Oil Export Ban

Last week, Energy Secretary Ernest Moniz said in Seoul that the issue was "under consideration" but said primary responsibility rested with the commerce department.

Rusty Braziel, president of Texas-based RBN Energy, said he expects any development in the coming weeks will be "a small-step trial balloon" to test the political reception to the rule as well as the impact on prices.

In recent few months, Braziel said he has gotten several queries from a number of different administration officials and congressional staff asking for more clarity about condensates.

"Just the fact they are asking the question made me think there is more going on here than just a few people chattering," he said.

Maybe Later?

Some observers doubt there will be any movement on oil exports before mid-term elections in November.

Obama, seeking to avoid angering allies in the environmental movement, may try to defer any action until domestic oil prices drop so low that producers are forced to begin shutting in production, they say.

Others dismiss the latest rush of enthusiasm as misguided.


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