The Trickle of U.S. Oil Exports Is Already Shifting Global Power

Discussion in 'The Economy' started by AMDR, Feb 23, 2016.

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  1. AMDR

    AMDR Captain Staff Member Administrator

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    The Trickle of U.S. Oil Exports Is Already Shifting Global Power

    Theo-T-002.jpeg

    By:
    Joe Carroll

    Harry Weber

    Inside the Panamax oil tanker was a cargo that some on Capitol Hill had dubbed “Liquid American Freedom” -- the first U.S. crude bound for overseas markets after Congress lifted the 40-year export ban.

    It was a landmark moment for the beleaguered energy industry and one heavy with both symbolism and economic implications. The Theo T was ushering in a new era as it left the U.S. Gulf Coast bound for France.

    The implications -- both financial and political -- for energy behemoths such as Saudi Arabia and Russia are staggering, according to Mark Mills, a senior fellow at the Manhattan Institute think tank and a former venture capitalist. "It’s a game changer," he said.

    "We will definitely replace Russia as the lowest-cost supplier,” Fadel Gheit, an analyst at Oppenheimer & Co., said of the U.S. expansion. “All of these things will have geopolitical and economic consequences. It’s a win-win for the U.S. and the West.”

    Read the rest here: http://www.bloomberg.com/news/artic...-sails-from-texas-tilting-power-in-global-oil
     
    surya kiran, Bryce Hontz and Falcon like this.
  2. Falcon

    Falcon Major Staff Member Social Media Team

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    We are so lucky to have all of these resources: coal, natural gas, arable land, lumber, fish, and the list goes on.

    We will never have a an Arab oil crisis again like there was in the 70's.

    We should work to keep oil prices low to help increase our leverage against Russia, Iran and Venezuela. Doing this however could negatively effect our relations with the Arabs. All of this new found oil will increase our economic and political clout.
     
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