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California Oil Refinery (Paul Sakuma : Associated Press)

Oil and Gas Exports—One Policy Change, Many Benefits

“Businesses that sell to foreign markets put more people to work in high-quality jobs, offering more Americans the chance to earn a decent wage,” claimed the Obama administration’s Secretary of Commerce Penny Pritzker in a March 18 Wall Street Journal

AP Photo/Cliff Owen

US Will Dominate the Golden Age of LNG

One of the drivers for oil falling to $50 a barrel is the fact that the world is entering the Golden Age of Natural Gas. Although oil is the primary energy source for transportation, natural gas is the most efficient low-carbon energy source for electricity, industrial production, and home heating. With the U.S. price of natural gas about 30% of the cost in Asia, huge specialized ships will soon be transporting LNG from the U.S. to displace a large percentage of diesel oil used for electrical generation and transportation in Asia.