I don’t think we care who buys our oil as much as we care about what they buy it with.
I thought FReepers were smarter than this?
Liberals love to make this argument. We are destroying our environment so we can export gas and oil to other countries.
I am waiting for greater export of oil, gas and coal. It is about time we turn this nation into a net exporter again.
We have a near unlimited supply of hydrocarbons that we are extracting safely, using American workers earning above-average wages.
We have discovered, extracted and transported this abundance without any government assistance.
Abundant energy means lower costs for US companies, a return of manufacturing to our shores and yes, lower energy costs for the poor and elderly.
Again, we did all this without a single dime from the government!
So, it pisses me off when stupid, short-sighted, uneducated people lament the export of something that will the be engine of our economy for the next 200 years.
It is illegal to export oil, except to Mexico and Canada. Mexico doesn't need oil but exports of shale oil to eastern Canada are spiking, to replace the more expensive imported Brent crude from the north sea and Africa. Congress has to change the law to allow exports to other countries.
But we are exporting record amounts of refined oil, gasoline and diesel, to Latin America. And if the Alberta pipeline(Trans-Canada) to the gulf coast gets built, the export of refined product would increase.
As for natural gas, we are exporting larger and larger amounts to Mexico via pipeline. FERC and the Energy dept have permitted 4 companies to export natural gas to other parts of the world, 3 on the gulf coast and 1 on the Atlantic coast. The first of these is scheduled to begin exporting in 2015. Supposedly, more will be permitted, but the US manufacturing sector is complaining about this.
Also, because of the natural gas shortages back in 2000-2001, several companies were permitted to import natural gas in 2002. By the time that gas began to arrive(2010), the price of natural gas in the US was so low, the importers began diverting it to other parts of the world. The price of NG around the world is much higher than it is in the US.
the US is shipping refined gasoline products — not crude — mostly to latin america.
However, a couple percent of US natural gas output mainly from the eagle ford formation—is going to Mexico. that percentage is likely to grow for the next couple of years. mexico has lots of natural gas but its oil companies don’t have the technology to exploit it. they don’t have the legal and regulatory framework to allow foreign companies to extract their natural gas. they’re currently working on modifiying their laws enable natural gas extraction by foreign companies
Think fungible assets.