We’re now more than a half decade into the shale revolution, which has completely changed the energy industry and the U.S. economy. #-ad_banner-#The surging production of crude oil and natural gas equates to huge profits for drillers and energy service providers, a boost in tax receipts for Uncle Sam and a taming effect on our country’s onerous trade deficits. The good news: output in shale regions keeps on rising, which may eventually enable the U.S to become a net exporter of crude oil. But not quite yet. The U.S. still maintains a multi-decade restriction against the export of… Read More
We’re now more than a half decade into the shale revolution, which has completely changed the energy industry and the U.S. economy. #-ad_banner-#The surging production of crude oil and natural gas equates to huge profits for drillers and energy service providers, a boost in tax receipts for Uncle Sam and a taming effect on our country’s onerous trade deficits. The good news: output in shale regions keeps on rising, which may eventually enable the U.S to become a net exporter of crude oil. But not quite yet. The U.S. still maintains a multi-decade restriction against the export of crude oil and policy makers have also been applying the brakes on plans to make a massive push into natural gas exports. However, crude oil export restrictions don’t apply to refined energy products, such as diesel and gasoline. And the numbers bear out a growing niche: Back in 2008, our nation exported roughly 63 million barrels of gasoline. Fast forward to 2013, and that figure exceeded 140 million barrels, according to the Energy Information Administration. Surging Gasoline Exports Year 2008 2013 2013 (First Five Months) 2014 (First Five Months) (Millions of Barrels) 62,840 143,176 57,654 65,905 Source: EIA Through the… Read More