Without drilling for oil in the Atlantic, geopolitical goal is being achieved

Without drilling for oil in the Atlantic, geopolitical goal is being achieved

October 31, 2017
The Washington Examiner story by John Siciliano tells the progress the U.S. is making in oil exports and what that has already achieved in geopolitical terms.  All without offshore drilling in the Atlantic and destroying our vibrant East Coast economy.

Here are the highlights of this story:

-“Oil exports increased by 300,000 barrels per day to a total average of 900,000 barrels per day in the first half of 2017 from the same period last year, according to federal data released this month.”

-“The U.S. exported crude to 27 countries in the first half of the year compared with 19 a year ago, EIA (Energy Information Administration) said.”

-“Exporting has a geopolitical effect that is starting to take effect by displacing oil from OPEC, the international cartel that includes a number of the world’s largest nationalized oil companies, such as Saudi Aramco.”

-“”We’ve effectively taken price control away from OPEC and put it in the hands of the market, which means primarily private producers in the United States,” Barton (R-Texas) said.”

-“The U.S. currently exports more natural gas than the nation imports.”

-“China is becoming the biggest source of that demand for U.S. oil. . . . 10 times higher than last year’s totals, according to Thomson Reuters Oil Research and Forecasts.”