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 - Tractor Profile: Allis-Chalmers Model G - by Staff. The first Allis-Chalmers Model G was produced in 1948 in Gasden, Alabama, and was designed for vegetable gardeners, small farms and landscape businesses. It is a small compact tractor that came with a complete line of implements especially tailored for its unique design. It featured a rear-mounted Continental N62 four-cylinder engine with a 2-3/8 x 3-1/2 inch bore and stroke. The rear-mounted engine provided traction for the rear wheels while at the same time gave the tractor operator a gre
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