US to become net exporter of energy

Fuel Fix:
The United States will become a net exporter of energy within the next 15 years under most scenarios examined by the U.S. Department of Energy, according to a report released Thursday.

The department’s Annual Energy Outlook 2017 presents updated projections for U.S. energy markets through 2050 based on eight scenarios. It is the first time that the department has published projections through 2050.

Petroleum liquid imports will likely fall, the department anticipates, and natural gas exports should rise. The country’s rich shale fields and technological advances will combine to produce oil and gas at lower prices.

If oil prices also rise, oil companies will boost production even as the high prices tamp down domestic consumption, “enabling the most rapid transition to net exporter status,” the report says.
There is more.

The US has come a long way in the few years since Democrats were saying that it could not drill its way out of high priced gasoline.  I have yet to hear them admit that they were wrong about that.  With the Trump administration deregulating much of the impediments to development of resources imposed by the Obama administration it is likely that the crossover point to net exporter may come much sooner.

Trump has also indicated that he will open up more federal land to energy development.  I think he should start by reversing Obama's attempt to excluding exploration in offshore areas and parts of the West.  He should also lift restrictions on drilling in Alaska.


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