Senate Energy Committee Chairman Ron Wyden said the U.S. must weigh the costs to consumers before ending the 40-year ban on crude oil exports and he predicted a prolonged debate. “It’s fair to say this conversation is not going to be resolved any time in the next few weeks,” Wyden, an Oregon Democrat and head of the Senate Energy and Natural Resources Committee, said at a hearing today. It was the first hearing on the issue in 25 years, he said. Harold Hamm , chairman of Oklahoma City-based Continental Resources Inc. (CLR) , told the panel that ending the limits will cut gasoline prices. Graeme Burnett, senior vice president of Delta Air Lines Inc., said ending restrictions will raise fuel costs. The differences between oil producers and users suggest a lobbying battle ahead as lawmakers reconsider the export ban enacted after the Arab oil embargo in the 1970s. Senator […]

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