Another Call to Export American Energy
Yet another “call”, this time from Roll Call, to export energy from the United States and joins many who support lifting the ban and regulations on our energy industry to export. With the U.S. now producing more oil and natural gas than Russian and Saudi Arabia, over 11 million barrels a day, lifting the U.S. oil export ban would:
- Add over $1 trillion in government revenues by 2030.
- Reduce fuel prices at the pump.
- Create 300,000 more jobs a year.
The current hydraulic fracking and American energy boom is reducing oil imports by 22 percent next year. Also, this American energy boom could also reduce the oil imports of European countries. The United States could replace Russia title as “Europe’s gas station” and provide all of Europe’s energy needs.
Not to mention the immense geopolitical benefits of lifting the ban.
Adding to what you said, yes. Lifting any and all trade barriers with Europe is so crucial. Germany’s leading economy is emaciated from pumping resources into Europe’s fragile states. Europe’s economy as a whole is really cooling down, and that all is reflected in the gas prices themselves as they start to consume less goods. Providing them with low-cost energy is one of the best ways we could possibly help insulate their economy (and subsequently the global economy) from another recession.
Not to mention they get all that gas from Russia.
Precisely, in my opinion, ‘wars’ among established countries nowadays are largely discrete economic ones.
Read an article the other day that mentioned lowering prices of goods, primarily oil/gas could lead to disinflation or deflation. Do you see this as a major issue to the U.S. or European economies?
Is this why prices at the pump are so low?
Definitely a large factor. I highly doubt it’s going to be the new regular though.