From Dependence to Dominance?
According to a recent article in “World Oil”, we can expect a flurry of public relations activity this week as the White House focuses on energy issues. For decades, the goal has been ‘energy independence’ or ‘energy self-sufficiency’ as we have tried to wean ourselves from foreign oil. However, the Trump administration will not be satisfied with anything less than ‘energy dominance’. To that end, the emphasis will be on the usual (oil, natural gas and coal production), as well as some not so usual (oil, LNG, coal, wind, solar, and nuclear technology exports, export-import financing, deregulation, and leasing federal lands) issues.
Domestic oil production is booming. The U. S. Energy Information Administration predicts that we will be producing a record 10 million barrels of oil per day next year. Since Obama lifted the crude oil export ban at the end of 2015, we have exported 157 million barrels of crude. Trump wants to significantly increase this.
The U. S. has been exporting LNG (Liquefied Natural Gas) since Cheniere Energy’s Sabine Pass facility began operations. Initially, only exports to nations with which we had free trade agreements were allowed. However, the Trump administration has lifted this restriction, allowing an additional 21 billion cubic feet of gas per day to be liquefied and exported.
We have previously been exporting coal, but the administration is now encouraging increased shipments of steam, as well as metallurgical coal. The new government is also considering lifting the ban on export-import financing of coal powered electricity generation plants overseas in an effort to further promote coal exports.
The administration is also trying to increase our international energy influence through the export of wind, solar and nuclear technology, especially as it relates to advanced and modular reactors.
The White House has already made great strides in deregulating a broad range of energy operations and is studying additional measures. It is also considering allowing coal mining and oil and gas drilling on federal lands, as well as leasing offshore acreage in the Arctic and Atlantic Oceans.
As Kevin Book, with ClearView Energy Partners, LLC, concludes, “Trump is reorienting our national rhetoric toward ‘dominance’. Captives crave independence: competitors strive to dominate. It’s a shift from getting by, to getting ahead.”
To read the article in its entirety, please go to http://www.worldoil.com/news/2017/6/25/trump-to-call-for-us-dominance-in-global-energy-production .
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