Great news for the US balance of trade. Starting on 2015 the US will begin to export Liquified Natural Gas (LNG). As the US has a glut of natural gas, this action will up demand by opening another market. There is a great deal of uncertainty on the future of the world LNG market, but European and Asian demand remains strong. If you’re hoping for the US to become a net crude oil exporter, we a long way off from there.
Just watched Newt’s energy informational. Like most people, I am happy about the good news in North Dakota. However the former Speaker loses a lot of credibility, when runs fast and loose with facts. Why was gas so cheap when Obama started his term? This was clearly due to reduced demand due to the Great Recession. See the US demand chart for oil attached with comparison to India and China. The data comes from petroleum company BP. Energy issues are particularly interesting to me, so I will be posting more on this. BTW, the chart shows how ineffectively the CAFE standards have worked in the US.