U.S. Set To Rival Russia In Oil And Natural Gas Exports
February 25, 2017
President Trump has promised to roll back federal regulations to help U.S. oil and natural gas and to open up new areas for development. The administration's energy priority is to "unleash America's $50 trillion in untapped shale, oil, and natural gas reserves."
Note: given our low prices, drilling in new areas might not seem so critical today but will becoming increasingly so because oil and gas aren't yet replaceable at scale, and demand will continue to mount "as far as the eye can see."
Overall, to say that we will now be implementing more pro-oil and pro-natural gas policies might be the biggest understatement you will hear this year. Think about it: former Texas governor Rick Perry is head of the U.S. Department of Energy and former ExxonMobil CEO is head of the U.S. Department of State.
Thus, the U.S. could rival Russia as the world's largest oil and gas exporting machine.
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