The phenomenal increase in light sweet crude oil and condensate production as a result of domestic exploitation of tight formation oil plays threatens to overwhelm pipeline transportation and domestic refinery capacity. If that happens, it would send a price signal to reduce the pace at which new tight formation production is brought on in the United States. The export of light sweet crude oil and condensates offers a way around the potential bottleneck. Lee Tillman, chief executive for Marathon Oil Corp.. discusses issues surrounding the lifting of the four-decade ban on domestic crude exports while Tim Dove, chief operating officer for Pioneer Natural Resources Co. recaps the company's successful and historic effort to gain export approval for Eagle Ford condensate.
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