Alice N. Sanders
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U.S. oil exports: Coming soon?

America could soon be exporting a lot of oil.

Momentum is building fast on lifting the ban on U.S. oil exports. Some believe the ban may not even live to see its 40th birthday this December.

A powerful combination of forces, starting with the massive United States shale oil boom, cheap gas prices and the Iranian nuclear deal is propelling this move much quicker than anybody expected.

A historic agreement with Iran could soon pave the way for Iranian oil to flood the global markets.

Proponents of lifting the ban wonder: If Iran can export lots more oil, why can't the U.S.?

"The political calculus has been changed by this Iran deal," said Joe McMonigle, who was chief of staff at the Energy Department in the George W. Bush administration.