Murkowski to meet with Commerce Secretary on crude exports

Sen. Lisa Murkwoski (R-Alaska) is set to meet with Commerce Secretary Penny Pritzker next week to talk more crude oil exports, according to a spokesperson for the senator.

Murkowski, a strong proponent of lifting the decades-old ban on crude oil exports, expressed optimism that more types of crude oil could be exported after the Commerce Department approved two permits for companies to export an ultralight oil known as condensate.

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The ruling by Commerce sent shockwaves through the industry, and many questioned if it meant the department was redefining what constituted as a refined petroleum product.

The type of ultralight approved by Commerce to be shipped overseas in the ruling late last month goes through a minimal refining process.

Murkowski plans to discuss Pritzker's existing authority regarding swaps and the export of condensates to better understand U.S. policy options.

Pritzker said last week at the Aspen Ideas Festival that "serious conversations" were underway at the Commerce Department on crude exports.

"I think it's a mistake to think there isn't serious conversation going on within the administration about what we should do and figure out the right policy," she said to a question oil and natural-gas exports. Commerce only regulates oil exports.