• 5 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 7 minutes Can LNG Kill Oil?
  • 8 minutes Question: Why are oil futures so low through 2020?
  • 11 minutes US Shale: Technology
  • 17 mins “The era of cheap & abundant energy is long gone. Money supply & debt have grown faster than real economy. Debt saturation is now a real risk, requiring a global scale reset.”"We are now in new era of expensive unconventional energy
  • 3 hours CoV-19: China, WHO, myth vs fact
  • 7 hours Blowout videos
  • 1 day Question - What if there are no buyers for Chevron's Appalachia Assets?
  • 2 hours Democrats Plan "B" Bloomberg Implodes. Plan "C" = John Kerry ?
  • 8 mins Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 2 days OIL trades as if the virus is a 1 quarter event. As if it's Containable, Reversible and Temporary. Is it ?
  • 22 hours Natural Gas
  • 2 days Energy from thin air?
  • 1 day Cheap natural gas is making it very hard to go green
  • 2 days Coronovairus, Phase One Agreement, Lower for Longer
  • 2 days Hey NYC - Mayor De Blasio declares you must say goodbye to fossil fuels. Get ready to freeze your Virtue Signaling butts off.
Oil Prices Fall As OPEC+ Refuses To Act

Oil Prices Fall As OPEC+ Refuses To Act

Oil prices fell on Friday…

Oil Trading Giant Sees Oil Price Recovery Later This Year

Oil Trading Giant Sees Oil Price Recovery Later This Year

Commodity trading major Vitol said…

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

Natural Gas

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

Oilprice - The No. 1 Source for Oil & Energy News