Spending deal to lift oil export ban

By Devin Henry, The Hill.

Lawmakers have agreed to lift the four-decade-old ban on crude oil exports as part of a spending and tax package announced by congressional leadership on Tuesday night, according to a GOP lawmaker.

In exchange, Republicans agreed to extend a series of expired or expiring renewable energy tax breaks. Both the wind production tax credit and the solar investment tax credit won five-year extensions in the tax and spending package unveiled on Tuesday, the GOP lawmaker said.  

Lifting the crude oil ban was a key goal for Republicans, who have said American oil producers should have expanded access to the international market at a time of low prices and new competition from Iranian oil.