Bloomberg would not ban U.S. oil exports in climate plan, unlike rival Democrats

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WASHINGTON (Reuters) - Media billionaire Michael Bloomberg would allow the United States to keep exporting crude oil overseas if he is elected president, his campaign says, unlike his top Democratic rivals who have pledged to ban oil exports immediately to fight climate change.

The stance could help the former New York City mayor gain votes in states like Texas, New Mexico and Louisiana that have benefited from booming U.S. oil exports since the Obama administration lifted a 40-year ban in 2015.

But it risks upsetting the Democratic party’s progressive wing, which is pushing for sweeping measures to quickly reduce greenhouse gas emissions.

Texas, one of the biggest U.S. states, is among the 14 voting in the March 3 Super Tuesday Democratic primary process. Its ports handle the lion’s share of America’s roughly 3 million barrels of daily exports, valued at around $65 billion in 2019.

https://news.yahoo.com/bloomberg-not-ban-u-oil-110906466.html