End of U.S. export ban will have little immediate effect on oil industry

CNBC reports that the end of the 40-year-old ban on crude oil exports from the United States should have little immediate impact on the nation’s oil industry, but longer term, it's likely to help U.S. shale producers and give the country “more clout in a cut-throat, global energy arena.” The U.S. will end the export ban as part of a $1.15 trillion spending bill recently approved by Congress. "It's definitely an improvement, but it's not like the be-all and end-all that's going to stop the bleeding in the oil patch," Andrew Lipow, president of Lipow Oil Associates, told CNBC. For more, read the full story.