US will become net energy exporter by 2022-EIA

Driven by modest energy consumption and continued development, the Energy Information Agency (EIA) Annual Energy Outlook 2018 forecasts that the United States will become a net energy exporter by 2022. The United States has been a net energy importer since 1953, but the reference case used for the Annual Energy Outlook 2018 indicates that continued development of shale, tight oil and natural gas, coupled with modest energy demand, will make the United States a net energy exporter no later than 2022.

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So.. Considering that the US imports in twice as much energy as it exports. Call me skeptic but I doubt there's enough US shale to create energy independence.. why have they been sitting on so much of it since 1953?

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There's not enough energy out there to make US energy independent, let alone a net exporter. Scandinavian countries...maybe

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The US just lifted a 40 year ban on oil exports in January 2016. We still need to spend some money to modify the ports for export to get it going. Secondly, in 1953 fracking did not exist. The oil and gas industry is where they are because of advances made in just the last few decades. So we are sitting on a lot of oil that was unrecoverable not too long ago. And there is lots of it. 

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Just now, JohnAtronis said:

The US just lifted a 40 year ban on oil exports in January 2016. We still need to spend some money to modify the ports for export to get it going. Secondly, in 1953 fracking did not exist. The oil and gas industry is where they are because of advances made in just the last few decades. So we are sitting on a lot of oil that was unrecoverable not too long ago. And there is lots of it. 

A bit too late. Dozen largest bank on the planet cancelled all loans for new fossil fuel projects.. The market is doing the opposite of what the Trump administration want it to..

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How come the more energy independent we become the more gas prices increase?

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Once again freedom and capitalism dominate the US, and off course the left has issues with it. 

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Just now, JohnAtronis said:

Once again freedom and capitalism dominate the US, and off course the left has issues with it. 

you must not have a clear idea of what you mean by 'the left'

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Exporting oil is short-sighted. We shouldn't do it.

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1 hour ago, Joanna said:

So.. Considering that the US imports in twice as much energy as it exports. Call me skeptic but I doubt there's enough US shale to create energy independence.. why have they been sitting on so much of it since 1953?

Meanwhile, coal continues to bottom out. Must be over-regulation!

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It IS overregulation, at least in part. For as long as the Jones Act stands, we will be unable to meet domestic demand, for one. Under Jones, goods (any) shipped between US ports must be transported on ships built, owned, crewed, and flagged by US. NO tanker in the world meets that requirement. Dumb. This is classic example of shooting oneself in the foot.https://www.bloomberg.com/news/articles/2018-01-19/how-the-u-s-almost-bought-russian-natural-gas-quicktake-q-a

 

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2 hours ago, Rodent said:

It IS overregulation, at least in part. For as long as the Jones Act stands, we will be unable to meet domestic demand, for one. Under Jones, goods (any) shipped between US ports must be transported on ships built, owned, crewed, and flagged by US. NO tanker in the world meets that requirement. Dumb. This is classic example of shooting oneself in the foot.https://www.bloomberg.com/news/articles/2018-01-19/how-the-u-s-almost-bought-russian-natural-gas-quicktake-q-a

 

I think you mean no nat gas tankers meet that criteria

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ah, yes. Thanks.

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The Jones Act is vital for our nation's security. The shipbuilding industry should get on the stick and harness this demand that we are for now unable to meet. We need US ships in US waters, with US crews.

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Well, I think the rough idea was that the shipping industry would fall in line and increase its capacity to move products between US ports, so in times of war or other unrest, civilian US ships could be called to assist in the event that the armed forces didn't have sufficient numbers. The fact that that still hasn't happened leads me to believe that the Jones Act is ineffective. And if something isn't working, let's scrap it and find something that does. 

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