[ No headline ]

It could be called the Great Oil Swap. With the world awash in oil, proposals again are being floated in Washington to ''swap'' Alaskan crude for Mexican oil. Japan would wind up in the middle of this arrangement: It would buy Alaskan oil from the US, which would turn around and buy Mexican oil from Mexico. The benefits would be twofold: lower transportation costs for oil to Japan and the US, and a lower US trade deficit with Japan.

The idea isn't new. But it's run into roadblocks before. One hitch has been public opinion. But observers say as prices at the gas pump fall, oil is becoming less of an issue with folks back home. The second hitch lies in federal law, which prohibits the export of Alaska's ''black gold.''

But the Export Administration Act is up for renewal this year. Some legislators say support exists that would allow them to alter the law to allow limited exports of Alaskan oil.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK