HSBC Predicts Boost in U.S. Energy Exports due to Shale | Russell T. Rudy Energy LLC
HSBC’s Global Connections Trade Forecast anticipates a 5% per year increase in U. S. Energy exports through 2030, according to an article in “Rigzone”. Petroleum imports are expected to drop from 12% to 5% over the long term as well. Emerging markets with limited oil and gas reserves and refining capacity will be a major export opportunity for the U. S.
Unconventional oil and gas production in the U. S., and the opening of Mexico’s energy industry will fuel domestic economic growth, especially along the Gulf Coast as Liquefied Natural Gas (LNG) and refining facilities are constructed and expanded to meet foreign demand. This could create over 55,000 new jobs in the Houston area alone. While the ban on exports of crude oil will probably stay in place, refined products will be a major export market.
While advanced economies, especially Europe, will remain the major trading partners for the U. S., Asia and Latin America will become increasingly important. HSBC expects overall exports to China and India to grow at an average of 9% per year from now through 2030.
To read the article in its entirety, please go to www.rigzone.com/news/article.asp?hpf=1&a_id=135036&utm .
