Robert Pirog

U.s. Crude Oil Export Policy: Background and Considerations Robert Pirog

During an era of oil price controls and following the 1973 Organization of Arab Petroleum Exporting Countries oil embargo, Congress passed the Energy Policy and Conservation Act of 1975 (EPCA), which directs the President ?to promulgate a rule prohibiting the export of crude oil? produced in the United States. Crude oil export restrictions are codified in the Export Administration Regulations administered by the Bureau of Industry and Security (BIS)?a Commerce Department agency. The President has some powers to allow certain crude oil exports if an exemption is determined to be in the national interest.