White House approves new natural gas export terminal

I believe there are dozens of such projects awaiting approval. They should be fast-tracked IMO. The sooner we get a Republican in the White House, the better.

We do export fuck tons of finished products such as diesel and bunker fuels. Now it's time to lift the ban on crude exports.

Obama is effectively lifting the ban on Iranian crude exports, but promises to veto the U.S. bill.

Isn't he lovely? :slap:
 
Dat's why gas prices goin' up here, we're sellin' off our inventory...
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Boom in Energy Exports to Mexico Benefits US Producers
December 1, 2016 – The natural gas industry in the United States is enjoying a boom in exports to Mexico, which now imports more than half of all the natural gas exported by the U.S., according to the US Energy Information Administration (EIA).
A report issued this week by EIA underscores the importance of the rapidly growing export of U.S. energy products to Mexico, which according to analysts is a boost to U.S. energy exporters and a key factor in maintaining current natural gas price levels. Growing U.S. exports of natural gas have doubled since 2009 with Mexico importing more than half of all natural gas exported by the U.S. since April of 2015, according to the EIA. Daily exports to Mexico through a growing network of natural gas pipelines crisscrossing the border were 25 percent higher this past August than a year ago, and 85 percent higher than the five-year (2011-15) average, the report said. The demand for electricity is driving Mexico’s thirst for natural gas.

Mexico is building new gas-fired electricity plants and contracts have been awarded for seven of 12 new pipeline projects, the EIA report said. Natural gas isn’t the only good news for U.S. exporters of energy to Mexico. The country also purchased more U.S. oil in the first half of this year than any other country, according to an EIA report issued in October. Mexico’s daily imports of 775,000 barrels topped both Canada and the Netherlands, it said.

Mexico is also the “the largest single recipient of U.S. gasoline exports” importing “363,000 barrels per day in the first half of 2016, up from 283,000 barrels per day in the first half of 2015,” according to the report. “Mexico has also been buying more and more U.S. gasoline,” said Mexican energy expert and a local industry analyst David Shields. “All of the increase in demand in Mexico comes from the U.S. Half of the exported gasoline from the U.S. goes to Mexico.” Shields blamed a decline in oil production in Mexico on the country’s nationalized oil industry, which he described as “inefficient” and “complacent.” “Mexico shouldn’t be in this mess,” he said. “It is not good for our economy to be spending so much on imported fuels.” “Somebody could turn off the tap. Or, if there was an energy crisis, or a political decision was taken not to sell so much to Mexico, that would leave Mexico in a difficult position.”

Shields did not think it likely, however, that President-elect Donald Trump’s pledge to review the terms of the North American Free Trade Agreement with Mexico would lead to a fuel supply cutoff. “I don’t think we are likely to see any kind of trade war related to fuels, but you never know.” If there was a shutoff, he said, the loss of Mexico as a “big market” would lead to a decline of natural gas prices in the U.S. Brandon Blossman, an analyst with Houston investment bank Tudor, Pickering, Holt & Co., has told the Wall Street Journal that ending exports to Mexico would slash natural gas prices by 30 percent.

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