Breaking News - We now have stiff competition to market our crude, just see what the United States has done:-


WASHINGTON–The House of Representatives passed Friday afternoon a bill lifting the crude oil export ban by a bipartisan 261-159 vote.

Texas Reps. Joe Barton, R-Arlington, and Henry Cuellar, D-Laredo, spearheaded the effort to tear down the 1970s-era ban with a coalition of industry interests behind them.

House Majority Whip Steve Scales, R-La. praised Barton for pushing ahead on an issue some considered a non-starter.

“About a year ago this time, nobody was talking about lifting the ban on crude oil exports except Joe Barton,” said Scalise. “Joe continued to beat the drum, but he also continued to build a wide bipartisan team to say this relic of the 1970′s has to go.”


Supporters claim lifting the ban will bolster the United States economy and let international allies dependent on Russian and Iranian oil switch over to American crude.

“The House’s vote today to overturn the crude oil export ban is a strong step toward a more prosperous U.S. energy sector,” said Cuellar in a statement. He expects crude oil exports to increase GDP by $134 billion and raise government revenues by $29 billion.

“Can you imagine more American made energy coursing through a stronger U.S. economy and flowing to our allies around the world?,” said Rep, Kevin Brady, R-The Woodlands. “This is [Russian President Vladimir] Putin’s worst nightmare and a dream for one million American families still looking for a good, paying job.”

The bill now goes the Senate, where it would need six Democratic votes to beat a filibuster. Sen. John Cornyn praised the House for taking “a long overdue step in the right direction” and said he’s eager to push the bill along in the upper chamber.

“Eliminating the de facto ban on crude oil exports is long past due,” added Sen. Ted Cruz in a statement. “This ban is a relic of 1970s price controls, and like most of the 70’s fads, this one is far past its prime.”

But President Barack Obama said Wednesday he’d likely veto the bill, and Republican supporters panned him for threatening to kneecap an effort they believe bolsters the American economy and national security

“There is really a simple question: You stand with America or you stand with Russia,” said Brady. “The answer from the House today is we’re standing with America.”

Four of the 20 Texan co-sponsors are Democrats, including Fort Worth Rep. Marc Veasey, who said the bill will have an outsized impact on Texas.

“This bipartisan bill grows our Texas and national economy while simultaneously positioning the United States as a global supplier of energy,” said Veasey in a statement. “Texas is leading our country in energy production and we should be working towards strengthening our nation’s energy independence and lowering costs at the pump for our families and businesses.”

But handful of Texas Democrats, including co-sponsor Rep. Eddie Bernice Johnson of Dallas, voted against the bill, citing environmental concerns.

Rep. Joaquin Castro, D-San Antonio, said he’s supported crude oil exports before, but said Republicans didn’t give Democrats a chance to fix the bill.

“Republicans took a ‘my way or the highway’ approach and rejected the inclusion of provisions that would improve the legislation,” said Castro in a statement, citing funding for environmental protections. “I look forward to seeing how the Senate handles the issue, and am hopeful they pass a more balanced, complete bill.”

http://trailblazersblog.dallasnews.com/2015/10/texans-celebrate-house-passage-of-bill-lifting-crude-oil-export-ban.html/

http://www.foxnews.com/politics/2015/10/09/house-oks-lifting-40-year-old-us-ban-on-crude-oil-exports/

We don't. We just gather the barrels, set them on fire for a huge bonfire, then every Nigerian dances round the bonfire while Introvert chants her incantations.

Make Buhari no diversity now, na him go hear am!


...and I thought the APC broom-waving goons up in here were celebrating the US's resumption of crude imports from Nigeria? How comes they've got enough crude to export themselves when they ''have'' to import from Nigeria?

Confederacy of CHODES and Retards constitutes the fraud APC!

Where is Mister I need more oyel money?
It have finish oooooo.
Choi! Double wahala for dead bodi

.

Our oil is the same grade type with shale oil produced in America so they will be in direct competition with us and they will have a greater advantage of penetrating Asian Markets due to the shorter shipping time from the West Coast to Asian economies.

They are really about to turn our economy upside down. God please save Nigeria!!

awesome! 'those people' can now drink their oil for all I care

we will take it to north and force it down the throat of every Hausa Muslim to drink.

God, why did you bestow on us this party that's bereft of ideas at this point in time. Just under five months, virtually everything is in shambles; no economic policy, no salaries being paid, job losses, no capital developments, political witch hunting, darkness, body odor etc please God, if you deliver us from APC , we promise not to make that mistake again.

The practice of true federalism in Nigeria will now be adopted and all states will now start looking inward for its meal ticket.

The bazaar will soon be over.

New minister of petroleum your eyes don clear.

It has b

By the time the US starts exporting crude, Our petroleum minister ,Buhari
would have stabilized the world oil market
so no shaking

When did the US attaind self sufficiency in oil let alone exporting to other countries.
The worst part is...Buhari and his APC wont adopt the last national conference on true federalism so that every state will develop its own resources for self sustainance, just because it was by PDP government.

Good news if you ask me. Our emphasis on oil will drop, Confab report will surface, Buhari will accept what he truly is, APC will learn not to 'politics' with affires of the nation.


APC to Nigeria is like Couple that wash their dirty linines in public and demand respect.

Hmm. Zoogeria is in trouble

Nnamdi Kanu has been vindicated

RickRichards:
We don't. We just gather the barrels, set them on fire for a huge bonfire, then every Nigerian dances round the bonfire while Introvert chants her incantations.

Lol...funny but this is a serious issue on ground.

iterator24:
awesome! 'those people' can now drink their oil for all I care

woow now you finally agree that we've been feeding you lazy baboons for ages. Dog ticks.

RickRichards:
We don't. We just gather the barrels, set them on fire for a huge bonfire, then every Nigerian dances round the bonfire while Introvert chants her incantations.

hehehehe.. We start singing kumbaya around our oyel

We need to diversify our economy ASAP!!

Nigeria relies on oil exports to generate its foreign exchange earnings. Oil accounts for 75% of the Nigerian government's revenue.

With increased oil production in the United States, India has replaced the U.S. as the largest importer of Nigerian crude oil.

Nigeria is suffering from reduced demand for its oil from North America because of U.S. Shale-Oil Boom.As a result, exports of Nigerian oil to the U.S. have fallen to their lowest levels in decades. Exports from both Angola and Algeria also fell, but is felt more in Nigeria, which has historically sent the bulk of its oil exports to the U.S. Europe oil demand is also falling.

Time to face serious austerity measures, just hoping our economy won't go burst, we have been too dependent on oil for so long.

Fingers crossed watching to see how deep the rabbit hole goes.

This thread is incorrect, the Obama white house refused to support the Oil industry, seeking to lift the ban on crude oil export. No bill has been passed nor signed by Obama.