ConocoPhillips Chairman and CEO Ryan Lance called for the abolition of an existing ban on crude oil exports during the 2013 Deloitte Oil and Gas Conference in Houston on Tuesday. Lance said allowing U.S. energy producers to export crude oil would ramp up domestic shale production and result in lower fuel prices. "Either you are going to shut down production, or you get wide differentials to try to incentivize capital investment in more facilities. The world needs the crude and there are places where we could export that crude into existing refineries," Lance said.
Published in Brief: