Forbes contributor Jude Clemente wrote yesterday about “The Importance Of U.S. Oil And Natural Gas Exports.” While there’s lots to like in his article, I was really taken by his “U.S. Oil and Gas Export Profile.” Clemente points out that the United States is now exporting…
- 5 million barrels per day of crude and oil products (nearly a five-fold increase since 2005).
- 1 million barrels per day of crude oil in (mid-February).
- 4.1 billion cubic feet (bcf) of natural gas per day to Mexico by pipeline, with capacity expected to grow to 15 bcf/day by 2020.
- 2.5 bcf/day to Canada, with new pipeline capacity coming there as well.
And, the United States has already exported LNG to more than 20 nations.
That’s pretty impressive, considering that the crude oil export ban was only lifted in December 2015 and LNG exports began in Feb. 2016. Hang on… We’re just getting started!