Congressional Leaders Agree to Lift US Oil Export Ban

Republican leaders in Congress announced late Tuesday that they had reached a deal on spending and tax legislation. A centerpiece of the agreement is a lift on the US oil export ban that has been in place for 40 years. The lift on the ban comes as US oil production has increased by almost 90% since 2008 and gas prices are at their lowest levels since 2009. The deal also includes environmental and renewable measures, such as an extension on solar and wind energy tax credits.

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