gablegotwals oklahoman 5-18-14
TRANSCRIPT
CBUSINESS SUNDAY, MAY 18, 2014 THE OKLAHOMAN | NEWSOK.COM
WORKPLACE
Who’s on Facebook?Though a recent survey shows socialmedia activity has little effect on hiringdecisions, Oklahoma employers continueto caution Internet users to post onlywhat they wouldn’t mind anyone seeing.PAGE 3C
EXECUTIVE Q&A
Dave Keglovits Dave Keglovits joined Tulsa-basedGableGotwals in 1990, fresh out ofthe University of Texas law school.A commercial litigator, he madepartner six and half years later,was named firm president in2005, and currently serves aschairman and chief executive.
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As domestic oil produc-tion continues its rapid in-crease, a growing numberof producers are calling foran end to a 40-year ban onmost domestic oil exports.
Some refiners and con-sumer advocates, however,say the export ban is stillnecessary and that achange could hurt con-sumers.
U.S. Energy Secretary Er-nest Moniz said the ObamaAdministration is studyingthe ban and whether to endor change it.
“The nature of the oilwe’re producing may notbe well-matched to ourcurrent refinery capacity,”Moniz told the Wall StreetJournal on Tuesday afteran energy conference inSeoul.
Oil embargoOil exports were banned
as part of the Energy Policyand Conservation Act of
1975, which was designedto protect the country’senergy resources after theArab Oil Embargo and asthe country’s oil produc-tion steadily declined.
“Those controls wereput in place for a reasonthat no longer exists,” saidEarl Reynolds, presidentand chief operating officerof Oklahoma City-basedChaparral Energy Inc. “Inthe mid-70s, there weregas lines and geopoliticalreasons for it, but those aregone now.”
Reynolds is chairman ofthe Oklahoma IndependentPetroleum Association’scrude oil committee, which
this week released a positionpaper calling for an end tothe ban on domestic oil ex-ports.
Domestic oil productiondeclined for more thanfour decades until hori-zontal drilling combinedwith hydraulic fracturingand other technologicalimprovements sparked theshale oil boom over thepast five years. U.S. oilproduction this month re-ached levels unseen since1986, according the U.S.Energy Information Ad-ministration.
Most onshore domesticoil is considered lightsweet crude, which whichcontains relatively low sul-fur content. Many of thecountry’s refineries, how-ever, have been designed tohandle blends of heaviercrudes with higher sulfurcontent.
BUSTING THE EXPORT BAN?
A maze of pipes connect storage tanks with interstate pipelines at Enbridge Inc.’s storage yard in Cushing. U.S. Energy Secretary Ernest Moniz said last week the Oba-ma Administration is studying whether to change the 40-year-old ban on most domestic oil exports. PHOTO BY DAVID MCDANIEL, THE OKLAHOMAN
SOME IN THE INDUSTRY THINK IT’S TIME TO CHANGE POLICIES ON U.S. OIL
ENERGY EDITOR
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01950 1960 1970 1980 1990 2000 2010
billion barrels
U.S. oil production
SOURCE: U.S. Energy Information Administration
Domestic oil production declined for more than four decades until horizontal drilling combined with hydraulic fracturing and other technological improve-ments sparked the shale oil boom over the past five years.
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