At every level—local, regional, national and international—2014 was a transformative year in the energy sector. Pennsylvania is widely considered the epicenter of Marcellus Shale gas development, which is driving our national energy policy and impacting global energy markets. This article highlights some of the major energy-related developments in Pennsylvania and elsewhere that occurred in 2014, and provides an outlook for the year to come.
Before we hit the local and regional issues, our head would be in the sand if we didn’t acknowledge that the export of crude oil continues to be the No. 1 issue nationwide for media, political and business attention. Will the United States lift the decades-old ban on exports of crude oil that was born out of the 1973 Arab oil embargo? And in the meantime, while “processed” crude is legal to export, what does “processed” mean—and more importantly, what does it mean according to the Department of Commerce’s Bureau of Industry and Security?
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