• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 1 day "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 2 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days "How China Could Send LNG Prices Into The Stratosphere" by Irina Slav
  • 2 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 4 days The Federal Reserve and Money...Aspects which are not widely known
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 8 days "We're All Sri Lankan Farmers Now" by James Corbett - (an important read)
  • 7 days "Oil-funded Rockefeller Foundation centers fight for climate" - Associated Press
How Russian Oil Is Making Its Way From Europe To Asia

How Russian Oil Is Making Its Way From Europe To Asia

Despite sanctions, Russia has been…

Russia Displaces Saudi Arabian Oil In India

Russia Displaces Saudi Arabian Oil In India

Russia’s share of the Indian…

Manufacturers Say Trump Nat Gas Export Push Betrays ‘America First’

An industrial trade group is arguing that the White House’s push to increase American natural gas exports works against the “America First” agenda President Donald Trump promised the electorate in his campaign last year, according to a new report.

It’s “inconsistent with President Trump’s fair trade and America-first policy,” Paul N. Cicio, the president of the Industrial Energy Consumers of America, said in a phone interview with Energy Voice. “It’s a stunningly breathtaking amount of natural gas that could be exported.”

The group wrote a letter to the White House, arguing that the export plan could drain two-thirds of the country’s natural gas resources by the year 2050. This would jeopardize energy sources for the nation’s manufacturing facilities and power plants.

“We remain alarmed at the volume of LNG exports that have been approved for periods of 20-30 years,” the group says in its letter. “Of greatest concern is that the administration has said publicly that it will approve more applications to export” to countries have not already signed free-trade agreements with the U.S.

But according to natural gas producers, growing exports of the carbon-light fossil fuel “advances our national security interests by providing allies access to diverse sources of energy, improves the global environment and contributes to correcting the US trade deficit.” Charlie Riedl of the Center for LNG, which represents global gas interests, added: ““The US has a limited window to take advantage of new demand.”

Related: Goldman: $50 Oil More Profitable Than $100 Oil

Several sectors of the American economy see problems with the new president’s economic plans, as well.

Oil companies are at odds with Trump regarding his idea to require pipeline companies to manufacture all parts for new projects within the U.S. Agricultural majors oppose the renegotiations of key trade deals, and oil refiners want the executive to end talks of an oil importation embargo against Venezuela.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Naomi on August 17 2017 said:
    The US Gulf coast produces gas anywhere you drill along a thousand mile coastline. USA is the Saudi Arabia of natural gas. The supply is endless and we have only begun to drill because the LNG infrastructure is slow to build. Once transport vessels and compressor infrastructure is a sunk cost then US LNG can undercut Gazprom prices. Offering Europe US gas for $3 vs Gazprom at $5.50 is part of the economic payback to Russia for the invasion of Ukraine. Consequences are long and hard but Russia will get it in the end.
  • chris on August 16 2017 said:
    This country is in turmoil and the outcome will not be good...

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News