Congressional leaders have agreed to lift the nation’s 40-year-old ban on oil exports, a historic action that reflects political and economic shifts driven by a boom in US oil drilling. Just a few months ago, any lifting of the ban was thought to be far away but the congressional new tax and spending deal is said to have broad, bipartisan support.
The measure allowing oil exports is at the center of a deal congressional leaders announced early Wednesday on spending and tax legislation. Both the House and Senate still must pass it and President Barack Obama must sign it into law.
The deal would lift the ban, a priority for republicans and the oil industry, and at the same time adopt environmental and renewable measures that democrats sought.
Architecture Billings Falls in November
The Architecture Billings Index dipped in November. An economic indicator of construction activity, the ABI reflects the approximate nine-to-12-month lead time between architecture billings and construction spending.
The American Institute of Architects reported the November ABI score was 49.3, down from the mark of 53.1 in the previous month. This score reflects a decrease in design services (any score above 50 indicates an increase in billings).