TRADE BILL LIMITS ON EXPORTS OF OIL RECEIVE INDUSTRY PRAISE

TRADE BILL LIMITS ON EXPORTS OF OIL RECEIVE INDUSTRY PRAISE

Maritime interests are hailing the House and Senate trade bill conferees' agreement that a maximum of 50,000 barrels a day of Alaska oil can be exported to Canada.

The limit is identical to a provision in the proposed free trade agreement with Canada, scheduled for consideration by Congress this summer.A major producer of Alaska North Slope crude, British Petroleum Corp., reportedly lobbied the conferees to allow 100,000 barrels a day to be sold to Canada.

Trade conferees also decided to limit exports of Alaska petroleum products

from an Alaska oil refinery that is currently on the drawing boards.